Home > Article >
Bank of Canada Cuts Key Rate to 3.75% Amid Declining Inflation
2024-10-24
1024
BSG News: Bank of Canada Cuts Key Rate to 3.75% Amid Declining Inflation
On October 23, 2024, the Bank of Canada reduced its key lending rate from 4.25% to 3.75%, marking its fourth consecutive cut since June. This decision follows a decrease in Canada’s inflation rate from 2.7% in June to 1.6% in September, paving the way for further rate reductions to support economic stability.
Looking ahead, the central bank anticipates inflation will stabilize around 2% through 2026, with economic growth expected to rebound in 2025 and 2026 as interest rates decrease, providing relief for Canadians facing high borrowing costs.
Now is the perfect time to plan ahead—
contact us to explore your options and make strategic decisions in this evolving market!
-
MLS® N12597534 48 Red Giant Street W, Richmond Hill, ON L4C 4Y4 0-5 | 4 Beds| 6 Baths $2,499,900 BAY STREET GROUP INC. -
MLS® X12597686 24 Empire Street, London East, ON N5Y 1G7 6 Beds| 2 Baths $498,800 BAY STREET GROUP INC.
-
MLS® N12597674 52 Rosseter Road, Markham, ON L3S 2M9 4 Beds| 3 Baths $3,400 BAY STREET GROUP INC.
-
MLS® W12597734 2524 Paula Court, Mississauga, ON L5K 2R5 31-50 | 8 Beds| 6 Baths $1,880,000 BAY STREET GROUP INC.
-
MLS® C12597740 403 Church Street 403, Toronto C08, ON M4Y 0C9 2 Beds| 2 Baths $783,000 BAY STREET GROUP INC.
-
MLS® C12597932 44 Woody Vine Way 251, Toronto C15, ON M2J 4H6 31-50 | 3 Beds| 2 Baths $3,100 BAY STREET GROUP INC.
-
MLS® C12598346 15 Greenview Avenue 1101, Toronto C07, ON M2M 1R2 1 Beds| 1 Baths $2,200 BAY STREET GROUP INC.
-
MLS® X12598390 396 Emerald Street N, Hamilton, ON L8L 5L9 4 Beds| 2 Baths $2,850 BAY STREET GROUP INC.