July 24, 2024 - Governing Council decided to reduce the policy rate from 4.75% to 4.50%.
With broad price pressures continuing to ease and inflation expected to move closer to 2%, Governing Council decided to reduce the policy interest rate by a further 25 basis points.
|
Bank of Canada |
Royal Bank of Canada Prime Rate |
| 4.50% 25 bps |
6.70% 25 bps |
Effective since July 25, 2024
- Consult the press release issued by the Bank of Canada.
- The next Bank of Canada announcement will be on September 4, 2024.
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3 possible effects of these cuts on your clients’ savings
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