Rate Cuts 2024 Canada. The bank of canada (boc) announced on july 24, 2024 that it would be cutting its overnight lending rate to 4.5%, following a similar.25% cut in june. The unemployment rate for people aged 15 to 24 hit 14.2 per cent in july, while the rate for recent immigrants (people who arrived in canada within the past five years) rose to 12.6.
On wednesday of next week, the bank of canada will announce its. The bank of canada today reduced its target for the overnight rate to 4ยพ%, with the bank rate at 5% and the deposit rate at 4ยพ%.