Rate Cuts 2024 Canada. The bank of canada on wednesday trimmed its key policy rate by 25 basis points to 4.75%, in a widely expected move that marked its first cut in four years, and said more easing was likely if. The global economy is expected to continue expanding at an annual rate of about 3% through 2026.

The global economy is expected to continue expanding at an annual rate of about 3% through 2026. The bank of canada today reduced its target for the overnight rate to 4¾%, with the bank rate at 5% and the deposit rate at 4¾%.