After the first rate cut, what’s next?

This week, the Bank of Canada finally announced a cut in its key interest rate (by a quarter of a percentage point) to 4.75%. IG Wealth Management’s Chief Investment Strategist, Philip Petursson says that, while this is a good start, it will take more than one small rate cut to make any significant difference to the economy. He explores what still needs to be done, what we can expect in the coming months and what this will mean for the loonie.