This is the fourth reduction in a row, but it came at a greater pace than the previous three reductions, each of which was 25 basis points.
It was slowing down Inflation in Canada Since the beginning of the summer, this has been an encouraging factor for the Canadian Central Bank to continue the monetary easing policy that it began last June.
The Governor of the Bank of Canada, Tiff Macklem, said in statements today: “We took a bigger step today because inflation has now returned to the 2 percent target and we want to keep it close to the target.”
The annual inflation rate in Canada fell to 1.6 percent last September, down from 2 percent in August.
This is the lowest annual inflation rate recorded in Canada since February 2021.
