October 23, 2024

Bank of Canada cuts key interest rate to 3.75%

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Business·Breaking

The Bank of Canada has lowered its key interest rate to 3.75 with a 50 basis-point cut, twice the size of the previous cut.

Wednesday’s 50 basis-point cut is twice the size of previous cut

Jenna Benchetrit · CBC News · Posted: Oct 23, 2024 9:50 AM EDT | Last Updated: 8 minutes ago

Bank of Canada governor Tiff Macklem addresses a news conference in Ottawa on Sept. 4. The Bank of Canada has lowered its key interest rate to 3.75 with a .50 basis-point cut. (Justin Tang/The Canadian Press)

The Bank of Canada has lowered its key interest rate to 3.75 with a 50 basis-point cut, twice the size of the previous cut.

More to come.

ABOUT THE AUTHOR

Jenna Benchetrit is the senior business writer for CBC News. She writes stories about Canadian economic and consumer issues, and has also recently covered U.S. politics. A Montrealer based in Toronto, Jenna holds a master’s degree in journalism from Toronto Metropolitan University. You can reach her at jenna.benchetrit@cbc.ca.

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