Bank of Canada cuts interest rates again

The Bank of Canada has cut its key interest rate by half a percentage point to 3.75%, marking the sixth rate cut since July. The decision was made in an effort to stimulate economic growth, which has been slowing in recent months.

The rate cut is good news for borrowers, as it will make it cheaper to borrow money. However, it is also bad news for savers, as it will reduce the interest they earn on their savings.

The Bank of Canada's decision to cut interest rates is a sign that the economy is slowing down. The bank is hoping that the rate cut will help to boost economic growth and prevent the economy from slipping into a recession.

It is important to note that the Bank of Canada's decision to cut interest rates is not a one-time event. The bank is likely to continue to cut interest rates in the coming months if the economy continues to slow.