Bank of Canada lowers key interest rate to 3.25%

Keeping consistent with a steady pattern of cuts, the Bank of Canada has lowered its key interest rate for the fifth consecutive time. This move reduces the central bank’s rate by half a percentage point, bringing it down to 3.25%.

Over the span of roughly six months, the BOC has lowered borrowing costs by 175 basis points, making it one of the most aggressive rate-cutters among the central banks of major economies.

Despite the significant reductions announced in recent months, the pace of these cuts is likely to slow down.