09/04/2024
The Bank of Canada announced its third consecutive interest rate cut today, as inflation continues to cool and the focus shifts toward economic growth.
This quarter-point cut, which was widely anticipated by economists, brings the central bank’s benchmark interest rate down to 4.25%. Since June, the policy rate has dropped by 75 basis points during this easing cycle.
This rate impacts borrowing costs across Canada, affecting mortgages and other loans for many Canadians.
If you're wondering what this means for you, feel free to reach out!
Tony Singh Josan
Mortgage Agent Level 1
📞PH 905-626-1300
