Bank of Canada cuts interest rates

The Bank of Canada (B-O-C) has cut its key interest rate for a fourth straight time.

In its biggest move in several years, the B-O-C has cut the rate by 50 basis points to 3.75 per cent.

Analysts say it shows Canada has returned to an era of low inflation.

B-O-C Governor Tiff Macklem says if the economy continues to evolve broadly in line with the central bank’s expectations, more interest rate cuts can be expected.


Be the first to know! Don’t miss out on breaking news and daily updates in your area. Sign up to MyKootenayNow News Alerts.

Continue Reading

cjat Now playing play

ckqr Now playing play

- Advertisement -

Related Articles

- Advertisement -

Latest News

Bailey Monteith named Trail Smoke Eaters assistant coach

A lifelong Smokies fan through his family’s passion for the team, Monteith carried that pride into his own hockey career as a goaltender in the BCHL and MJHL.

West Robson boil notice cancelled

The Regional District of Central Kootenay says the boil notice issued Aug. 8 has been lifted.

Record Ridge project avoids environmental assessment

A proposed magnesium mine southwest of Rossland will not be subject to a full-blown environmental review.

UPDATED: Home lost to fire at Waneta Junction

Kootenay Boundary Regional Fire Rescue has confirmed a home has been destroyed after a fire broke out around 3:18 p.m. today in the 8400 Block of Highway 22A.

Edgewood ostrich farm loses latest appeal

The Federal Court of Appeal has ruled against an Edgewood ostrich farm that was seeking to overturn on order to cull their animals.
- Advertisement -