The Financial institution of Canada has minimize its key rate of interest by 1 / 4 of a %, the primary such minimize since 2020. However is it going to make life in Canada any extra reasonably priced?
Entrance Burner27:04Life’s robust. Will the rate of interest minimize assist?
An rate of interest minimize of 1 / 4 of a % may not sound like a lot. However as the primary minimize in 4 years following the COVID-19 pandemic and all of the financial upheaval that adopted, it is a large deal. And it may very well be the primary of a number of within the months forward.
However what does that imply for you? How does that have an effect on your capacity to afford issues like a mortgage, a automobile, groceries, or rising your online business? And after a rocky couple of years, do individuals even place confidence in the Financial institution of Canada’s capacity to maintain issues underneath management anymore?
CBC senior enterprise correspondent Peter Armstrong breaks all of it down, together with insights from an unique interview with BoC governor Tiff Macklem.
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