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Bank of Canada Cuts Interest Rate to 3.75% Amid Declining Inflation

Oct 23, 2024

The Bank of Canada reduced its key interest rate from 4.25% to 3.75%, marking the fourth consecutive cut as inflation drops to 1.6%.
The central bank aims to stabilize inflation around 2%, predicting further cuts if the trend continues.
Despite economic growth, challenges remain, including a rise in unemployment and weak business hiring.

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