OTTAWA — The Bank of Canada cut its key interest rate target by 25 basis points to 4.25 per cent on Wednesday. Here is the text of the central bank's decision: The Bank of Canada today reduced its target for the overnight rate to 4.
OTTAWA — The Bank of Canada cut its key interest rate target by 25 basis points to 4.25 per cent on Wednesday. Here is the text of the central bank's decision:
The global economy expanded by about 2.5 per cent in the second quarter, consistent with projections in the Bank’s July Monetary Policy Report . In the United States, economic growth was stronger than expected, led by consumption, but the labour market has slowed. Euro-area growth has been boosted by tourism and other services, while manufacturing has been soft. Inflation in both regions continues to moderate. In China, weak domestic demand weighed on economic growth.
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