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.

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