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A statement of cuts sets the tone for tough financial choices ahead

A statement of cuts sets the tone for tough financial choices ahead

Pedestrians walk past the Bank of Canada in Ottawa, Ontario, Canada, on July 12, 2023. On July 12, 2023, Canada's central bank raised its key interest rate by 25 basis points to five percent, the highest level since 2001. Acknowledging that global inflation was easing, the Bank of Canada explained its decision -- which was in line with analysts' expectations -- saying:

Bank of Canada rate cuts and your mortgage: What homeowners, prospective buyers can expect

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