The Bank of Canada has reduced its key interest rate by 50 basis points, bringing it down to 3.25%. This marks the second consecutive half-point cut, aiming to stimulate economic growth amid rising unemployment and potential trade uncertainties.
Governor Tiff Macklem indicated that future rate adjustments would be more gradual, assessing economic conditions as they evolve. The central bank remains vigilant regarding potential U.S. tariffs, which could impact Canadian exports and overall economic performance.
In response to the rate cut, the Canadian dollar strengthened against the U.S. dollar, reflecting market reactions to the central bank’s monetary policy decisions.
For a comprehensive analysis of how this interest rate cut affects the real estate market, including potential savings for buyers and implications for sellers, please visit my latest blog post:
Breaking Real Estate Market Update: December 11, 2024
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