The Bank of Canada has lowered its policy rate by 25 basis points to 4.25%, with the Bank Rate at 4.5% and the deposit rate at 4.25%, continuing its balance sheet normalization. Global economic growth reached 2.5% in Q2, with varied performance across regions. In Canada, Q2 growth was slightly above expectations at 2.1%, driven by government spending and business investment. Inflation slowed to 2.5% in July, but high shelter prices remain a key contributor. The next rate announcement is on October 23, 2024.
Source: https://www.bankofcanada.ca/2024/09/fad-press-release-2024-09-04/
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Bank of Canada Reduces Policy Rate by 25 Basis Points to 4¼%
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