‘Canadians can breathe a sigh of relief’: Macklem says after bank cuts interest rate to 3.75%

Bank of Canada Governor Tiff Macklem said Wednesday, after the central bank delivered an oversized interest rate cut, that it has been a “long fight” against inflation but that it has worked. He said “Canadians can breathe a sigh of relief” as the bank shifts its focus to keeping inflation stable at two per cent.