24
Jul
Bank of Canada reduces its benchmark interest rate to 4.50%, Prime Rate likely will drop to 6.7%
Posted by: Nitin Kumar
Encouraged by underling trends in the Canadian economy, the Bank of Canada today cut its overnight policy interest rate by 0.25% to 4.50%. This is the second incremental reduction we’ve seen in as many months and while both cuts have been modest, they are moving Canada toward less restrictive monetary policy. Banks likely to drop […]
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