Bank of Canada REDUCES overnight rate, Prime will drop to 6.95% (previously 7.20%).
At the fourth announcement of 2024, the Bank of Canada today has finally decided to reduce the overnight rate which means Prime will fall to 6.95%.
The next scheduled date for announcing the overnight rate target is July 24, 2024.
https://www.bankofcanada.ca/2024/06/fad-press-release-2024-06-05/