Bank of Canada cuts its key interest rate to 3.25%

On Wednesday, the Bank of Canada lowered its policy rate by another 50 basis points to 3.25%.
Why?

Recent economic indicators show slower-than-expected GDP growth and a rising unemployment rate—trends that prompted the central bank to act decisively.

Here’s the big picture:

• For businesses: Lower rates can mean reduced borrowing costs, offering an opportunity to invest in growth, technology, or expansion. But beware: it’s also a signal of a cooling economy. Stay vigilant on your financial strategies.

• For consumers: Mortgages, loans, and lines of credit could become more affordable. However, consumer confidence might waver in uncertain times.

As businesses, this is the time to:

:one: Evaluate refinancing options.

:two: Assess cash flow strategies.

:three: Watch how demand trends shift in response to this economic cooling measure.