Bank of Canada Reduces its Interest Rate by 4.5% posts.gle

The Bank of Canada has reduced its policy interest rate by 25 basis points to 4.5% in response to easing inflationary pressures and ongoing economic adjustments. The global economy continues to grow at around 3% annually, with Canada seeing moderate GDP growth and signs of slack in the labor market. Although inflation has moderated, particularly in core inflation measures, shelter costs remain elevated. The Bank anticipates that inflation will gradually return to its 2% target by mid-2025. The next rate announcement is set for September 4, 2024.

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