Bank of Canada cuts rates to 0.75%, loonie drops to 71.14 cents US due to coronavirus.

From Google: 2024-07-24 15:46:49

The Bank of Canada cuts interest rates to 0.75%, down by 50 basis points. The loonie falls 2.1% to 71.14 cents US, a level not seen since 2016. The Canadian dollar is also down 3.65 points to 76.56 cents US. This move is meant to help offset the economic impact of the coronavirus.



Read more at Google: Here’s what the Bank of Canada’s rate drop means for the loonie – CP24