The Globe and Mail reports in its Thursday edition that the Bank of Canada has cut its benchmark interest rate for the third time in a row on Wednesday. The Globe's Matt Lundy writes that the BOC cut its policy rate to 4.25 per cent from 4.5 per cent, following similar cuts in June and July. Governor Tiff Macklem mentioned the possibility of further cuts in the policy rate if inflation continues to ease according to the BOC's forecasts. The BOC is concerned about downside risks to the economy and the potential for inflation to fall too much. It emphasized the need for economic growth to absorb the slack in the economy and ensure that inflation returns sustainably to the 2-per-cent target. Investors are expecting more rate cuts in the months ahead, with market expectations of five additional quarter-point cuts by June, 2025, according to Bloomberg. Analysts have said it is possible the BOC could deliver a half-point cut at one of its coming decisions, in the event that economic conditions weaken to a significant degree. Mr. Macklem said at a news conference after the rate announcement: "If we need to take a bigger step, we're prepared to take a bigger step. But at this point, 25 basis points looked appropriate."