Federal Liberals are celebrating on Parliament Hill after the Bank of Canada cut its key interest rate by a quarter point to 4.75 per cent.
Finance Minister Chrystia Freeland told the Liberals’ weekly caucus meeting that the party’s economic plan is working, calling it welcome news for Canada and Canadians.
This marks the Bank of Canada’s first rate cut since March 2020.
However, the Opposition Conservatives were is a less jubilant mood, arguing the rate cut would do little to help Canadians.
Written by Jeremy Hall