9 years ago
Bank of Canada cuts rates again as economy contracts
The Bank of Canada cut its key interest rate by 1/4 percentage point to 0.5 percent on Wednesday, saying an unexpected economic contraction in the first half of the year had added to excess capacity and put downward pressure on inflation. "Additional monetary stimulus is required at this time to help return the economy to full capacity and inflation sustainably to target," the central bank said in the interest rate decision that accompanied its quarterly Monetary Policy Report. Bank of Canada...
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