The Bank of Canada just announced a 25 basis point cut, bringing the prime rate down to 6.45%! While many hoped for a bigger drop, there’s good news ahead. The Bank of Canada has signaled that more rate cuts are expected in the coming months. According to TD, we could see up to 250 basis points shaved off by the end of 2025, bringing the prime rate down to 3.95%. Lower rates are on the horizon!