【Bank of Canada cuts interest rates by 50 basis points, marking the fourth consecutive rate cut】Golden Finance reports that the Bank of Canada cut rates by 50 basis points on Wednesday, reducing the benchmark interest rate from 4.25% to 3.75%. This is the largest reduction in borrowing costs since the onset of the pandemic in March 2020. The Bank of Canada stated that this is a sign that the country is returning to a low-inflation era. To combat soaring prices, the Bank of Canada had previously raised rates to the highest level in 20 years, but has now cut rates four times in a row since June. The inflation rate in September fell to 1.6%, below the 2% target.