The Bank of Canada has lowered its key interest rate to 3.75 per cent, making a 50-basis-point cut for the first time since the COVID-19 pandemic.
Before Wednesday, the rate stood at 4.25 per cent. Economists were expecting the central bank to go with a larger-than-usual cut, compared to the 25-basis-point downgrades made in June, July and September.
The last time the bank made a cut this size was on March 27, 2020.
I am so buying now!
Rate Cut -.50 I'm Buying More Rentals!
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NaiveNewbie
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Re: Rate Cut -.50 I'm Buying More Rentals!
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