The Bank of Canada has lowered its policy rate to 4.25%.

◻️The Bank of Canada (BoC) has lowered its policy rate by 25 basis points to 4.25% as inflationary pressures ease.

◼️BoC Governor Tiff Macklem stated that further rate cuts are possible if inflation continues to decline in line with forecasts.

◻️The BoC became the first central bank among the G7 countries to begin easing policy. The bank had made its first rate cut in 4 years by lowering its interest rate from 5% to 4.75% in June 2023.

◼️Inflation in Canada reached its highest level in the last 40 years at 8.1% in 2022, and the BoC had increased interest rates 10 times since March 2022 to control this situation.

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