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Making sense of the markets this week: June 9, 2024Kyle Prevost, creator of 4 Steps to a Worry-Free Retirement, Canada’s DIY retirement planning course, shares financial headlines and offers context for Canadian investors.

“The Big Cut”

While The Big Short film is a riveting watch, “The Big Cut” may be even more enthralling. 

The Bank of Canada (BoC) made the decision to cut its key interest rate to 4.75% on Wednesday. It’s the first rate cut since March 2020. With about $700 million worth of mortgages coming up for renewal in Canada this year, “The Big Cut” is going to affect a lot of Canadians.

“We’ve come a long way in the fight against inflation. And our confidence that inflation will continue to move closer to the 2% target has increased over recent months.”
– BoC Governor Tiff Macklem 

Macklem also said: “Total consumer price index inflation has declined consistently over the course of this year, and indicators of underlying inflation increasingly point to a sustained easing…

Continue Reading On moneysense.ca »

The Bank of Canada has lowered its key interest rate by a quarter of a percentage point to 4.75%, the first cut in more than four years. Here’s what it could mean for your finances.

Continue Reading On canadianmortgagetrends.com »

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