OTTAWA — The Bank of Canada marked a major turning point in its fight against inflation on Wednesday as it lowered its key interest rate for the first time in more than four years, making it the first central bank in the G7 to cut rates.

Governor Tiff Macklem says the central bank has more confidence inflation is moving closer to its two per cent target, citing various indicators that suggest price pressures have retreated.

OTTAWA — The Bank of Canada marked a major turning point in its fight against inflation on Wednesday as it lowered its key interest rate for the first time in more …{ai:summary}<p>Bank of Canada cuts interest rates, first G7 bank to do so in over four years. Inflation nearing target, says Governor Macklem. #economy</p>

Bank of Canada cuts key interest rate for first time in more than four years

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