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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