Bank Of Canada Rate Cut July 24 2024. Canada’s central bank reduced its rate 25 basis points to 4.75 per cent on june 5, its first cut in the most aggressive rate hiking cycle in recent memory. All of the big six banks including rbc, td, bmo, scotiabank,.

The document, published wednesday, captures an important shift at the central bank, which cut its policy interest rate by a quarter point on july 24. Canada’s central bank reduced its rate 25 basis points to 4.75 per cent on june 5, its first cut in the most aggressive rate hiking cycle in recent memory.