The Bank of Canada (BoC) just announced a rate cut of 50 basis points, bringing its overnight lending rate down to 3.75%
The rate cut – the fourth of 2024 – comes as inflation is cooling in Canada and the labour market is softening
TD Economist Rishi Sondhi said that this rate cut is part of a series of cuts by the BoC that will continue into 2025
Key Takeaways:
