Prime Minister says Canada is first major country to have 3 inflation rate cuts in a row

    Friday, 6 September 2024 12:00

    By Tonya Organ

    Interest rates were cut to 4.75 per cent in June and 4.5 per cent in July.

    The Bank of Canada lowered interest rates for the past three months in a row. The latest was Wednesday when rates were cut by 25 basis points to 4.25 %. In Rocky Harbour on Wednesday, Prime Minister Justin Trudeau said this is good news for Canadians. It means families or businesses will see a little relief. Canada is the first major country to have 3 inflation cuts in a row. Interest rates were cut to 4.75 per cent in June and 4.5 per cent in July.

    To report an error, submit a news tip, or provide feedback, please e-mail news@bayfm.ca or call (709) 637-0183.

    More from Local News

     

     

     

    BayFM recognizes support from the following agencies:

                        

    Today's Weather

    • Corner Brook

      Light rain

      High: 20°C | Low: 4°C

    • Deer Lake

      Light rain

      High: 19°C | Low: 3°C

    • Stephenville

      Light rain shower

      High: 20°C | Low: 9°C

    Recently Played

    Podcasts

    • Trash Talk

      Trash Talk Thursday, June 11, 2026

      Lynn Howse from Western Regional Waste Management on Bay Fm

    • NL Summer Games 2026

      NL Summer Games update, June 11, 2026

      As the countdown continues to the NL Summer Games in Corner Brook this summer, the featured sport on this edition of Blaze's Corner is baseball.

    • BayFM On-Demand

      Jays Care Foundation's Field of Dreams Grant!

      Pasadena Minor Baseball has received almost $53,000 from the Jays Care Foundation's Field of Dreams Grant!