On Wednesday, June 5, the Bank of Canada announced a interest rate cut for the first time in four years.

Meaghon Reid spoke with the Calgary Herald that this small change is an indicator of hope for those working in poverty reduction, but that there will be no immediate effects for those living in poverty.

“After years of interest rates going up, it’s great to see that we’re seeing that small tick downward. That says to me that in the longer term, there is some hope on the horizon,” she said. “But I think that it’s going to be a long time before people who live in poverty, or who are struggling with affordability in Calgary, see the effects of that in their daily lives.”

Read the full article here: 'Hope on the horizon': Interest rate cut welcome but unlikely to have immediate impact on affordability