A big shakeup in the financial sector Wednesday. The bank of Canada announced that it’s cutting interest rates by a quarter point to .75 per cent. It’s the first time the bank has cut its rate in four years. The decision to cut the rate affected our dollar. It dropped to just over 81 cents U.S.
No one is complaining about the low dollar in the Okanagan. Manufacturers like Gorman Brothers in West Kelowna say it’s good news for the forest industry. Tourism Kelowna says it expects to see more Americans crossing north of the border with cash in hand and the film industry is expecting to see more American productions heading our way. Kelly Hayes reports.
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