The Bank of Canada on Wednesday cut its policy rate by 50 basis points to 3.25%.
Wednesday’s decision marks the second consecutive half-point cut.
The Bank of Canada on Wednesday cut its policy rate by 50 basis points to 3.25%.
Economists had largely expected another big interest rate cut after the quarterly GDP report showed growth was lower than the central bank expected, and the jobs report showed an increase in the unemployment rate.
The central bank cut interest rates by half a percentage point in October for the first time since the pandemic.
Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers will speak at 10:30 a.m. ET and take questions from the media. The conference will be live streamed on this page.
Bank of Canada Governor Tiff Macklem and Senior Deputy Governor Carolyn Rogers will issue a statement and answer questions about the central bank’s interest rate announcement.
This will continue in the future.
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