Bank of Canada REDUCES overnight rate, Prime will drop to 6.70% (previously 6.95%).
At the fifth announcement of 2024 and for the second time this year the Bank of Canada today decided to reduce the overnight rate. Prime will fall to 6.70%.
The next scheduled date for announcing the overnight rate target is Sep 4, 2024.
https://www.bankofcanada.ca/2024/07/fad-press-release-2024-07-24/