If inflation continues to ease broadly in line with our forecast, it is reasonable to expect further cuts in our policy interest rate, Macklem told reporters. The bank brought key interest rates down by 25 basis points to 4.75 per cent during that June meeting. Fin du widget Widget. The two consecutive interest rate cuts gave us just a little bit more hope, Grimble told CBC News. Cutting interest rates has an immediate impact on mortgage lending rates for prospective homeowners like Grimble.

Source: CBC News July 24, 2024 17:15 UTC