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Bank of Canada Governor Tiff Macklem participates in a news conference on the bank's interest rate announcement in Ottawa on Sept. 4, 2024. The Canadian Press/Justin Tang
OTTAWA—The Bank of Canada cut its key interest rate for the fourth time in 2024, bringing it down to 3.75 percent.
“We took a bigger step today because inflation is now back to the 2 percent target and we want to keep it close to the target,” Bank of Canada Governor Tiff Macklem said on Oct. 23.
