The Bank of Canada has cut its key interest rate by a quarter of a percent, the first such cut since 2020. But is it going to make life in Canada any more affordable?
Front Burner27:04Life’s tough. Will the interest rate cut help?
An interest rate cut of a quarter of a percent might not sound like much. But as the first cut in four years following the COVID-19 pandemic and all the economic upheaval that followed, it’s a big deal. And it could be the first of several in the months ahead.
But what does that mean for you? How does that affect your ability to afford things like a mortgage, a car, groceries, or growing your business? And after a rocky couple of years, do people even have faith in the Bank of Canada’s ability to keep things under control anymore?
CBC senior business correspondent Peter Armstrong breaks it all down, including insights from an exclusive interview with BoC governor Tiff Macklem.
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