Bank of Canada lowers policy rate
On Wednesday, the Bank of Canada reduced its target for the overnight rate by 25 basis points to 2.25 percent, with the Bank Rate at 2.5 percent and the deposit rate at 2.20 percent.
The effects of US trade actions on economic growth and inflation have become somewhat clearer.
There is a prevalent impact of the tariffs on the global economy, with trade tensions slowing investment in many countries.
Canada’s economy contracted in the second quarter, and the labour market remains soft.
The next scheduled date for announcing the overnight rate target is December 10.
Related Articles
Full operations at Wabush Airport to resume Wednesday
Inflation increases in September
Firefighting shortage grounds flights at Wabush Airport
Flights disrupted at Wabush Airport due to lack of firefighting resources
Tourism surge sends Marine Atlantic bookings soaring after fare drop