Bank of Canada slashes key rate; cites weak economy, stalled exports - GIC Wealth Management

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For Your Information Bank of Canada slashes key rate; cites weak economy, stalled exports

Bank of Canada slashes key rate; cites weak economy, stalled exports

The Bank of Canada is cutting its key interest rate for the second time this year, citing a larger-than-expected first half contraction and a “puzzling” stall in non-energy exports. The central bank lowered its benchmark overnight rate by a quarter percentage-point Wednesday to 0.5 per cent, blaming faltering global growth, disinflation and low prices for oil and other commodities.

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