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the Bank of Canada has reduced its key interest rate to 4.5% marking the second consecutive cut after a previous reduction in June Governor Tiff mckam indicated that further cuts are possible if inflation continues to decrease following a recent dip to 2.7% despite concerns over Rising costs in housing and other services the bank remains optimistic about achieving its 2% inflation Target mlam emphasized that the bank is not on a fixed path and will assess conditions on a meeting by- meeting basis Deputy Governor Carolyn Rogers warned against relying solely on interest rate cuts for improvements in the housing market highlighting ongoing pressures from rising rents and maintenance costs thanks for listening please support by liking sharing and subscribing
