The Bank of Canada has cut interest rates by 50 basis points, its first bigger-than-usual move in over four years. The decision comes after September inflation sank below the 2% target, indicating a return to an era of low inflation. Governor Tiff Macklem stated that Canadians can "breathe a sigh of relief" as the country emerges from a long fight against inflation. The central bank has cut rates four times in a row since June and is expected to continue monitoring economic growth.

Source: https://www.aljazeera.com/economy/2024/10/23/bank-of-canada-cuts-interest-rates-says-fight-against-inflation-worked?traffic_source=rss