The central bank last week cut its key benchmark rate by 50 basis points to 3.75%, its first bigger-than-usual move in more than four years, and hailed signs the country had returned to an era of low inflation
is starting to see the impact of its four rate cuts so far this year and expects to gather more evidence in the months ahead, Governor Tiff Macklem said on Tuesday.
The central bank, which hiked rates to a 20-year high to fight soaring prices, has now cut four times in a row since June. Inflation in September sank to 1.6%, below the 2% target.
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