Steinbach Credit Union makes decision on interest rates

The Chief Executive Officer for Steinbach Credit Union says the Bank of Canada's decision to lower interest rates came as no surprise. On Wednesday, the Bank of Canada announced it has lowered its key lending rate by a quarter point to 2.5 per cent. This is the first adjustment since March of this year. In April 2024, interest rates were at five per cent. Curtis Wennberg says Wednesday's adjustment was projected by experts in the bond markets.