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Interest Rate Announcement – July 24 2024
July 24, 2024 | Posted by: Matthew J. Charlton
In its statement, the Bank said, price pressures are “continuing to ease” and that inflation is expected to move closer to 2%. It cautioned that price pressures remain in some parts of the economy, including shelter.
'The Bank of Canada's decision to lower the interest rate to 4.50% is a positive step forward. This decision aims to ease some of the financial strain on Canadian homeowners and those aspiring to enter the housing market. We commend the Bank of Canada for recognizing the affordability challenges Canadians face in the current economic climate and look forward to continued efforts to support homeowners and prospective buyers.”
- Lauren van den Berg, President and CEO of Mortgage Professionals of Canada.
- Lauren van den Berg, President and CEO of Mortgage Professionals of Canada.
