Bank of Canada trims key rate to 4.5%

Millions of Canadian households are receiving a small measure of relief, as the Bank of Canada has dropped its key interest rate to 4.5 per cent. Mackenzie Gray explains what’s behind the rate cut, what it means for homeowners now, and the new worries both they and the central bank have for the future.

• Bank of Canada cuts key interest rate to 4.5% with hints of more to come