Bank of Canada cuts key interest rate again, signals more cuts ahead
The Bank of Canada delivered its third consecutive interest rate cut Wednesday, bringing its key lending rate to 4.25 per cent.
The quarter percentage point rate cut was widely expected by forecasters, given ongoing softness in the economy and easing inflation.
In his written remarks, governor Tiff Macklem said the central bank’s decision reflected two considerations.
“First, headline and core inflation have continued to ease as expected,” Macklem said.