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 said the central bank has more confidence inflation is moving closer to its 2% target, citing various indicators that suggest price pressures have retreated. “If inflation continues to ease, and our confidence that inflation is headed sustainably to the 2% target continues to increase, it is reasonable to expect further cuts to our policy interest rate,” Macklem said in ... (full story)