Mr. Speaker, as of this morning, the Bank of Canada cut interest rates by 50 basis points, bringing interest rates down to just 3.75%. That is good news for hard-working Canadians. It is going to help families who need to renew their mortgage. It is going to help young people wanting to go out and buy their first home. It is going to give some breathing room to folks who have debts and loans to repay, making things just a bit easier for them.
Lower interest rates are good news for Canadian entrepreneurs, for businesses of all sizes, whether they have loans or not. I must say, during Small Business Week, no less, it is great news for our small businesses.
Now I am not saying that everything is perfect here. I know there are Canadians struggling with affordability. I know that there are global economic instability forces at play, but I also know that there is no better place to be than Canada right now. Today, things were made just a little bit easier and a little bit better for the good folks living here.