Bank of Canada Shocks With First Interest Rate Cut in 4 Years

If you've got a variable-rate mortgage, car loan or credit line, the Bank of Canada just threw you a life line!

 

BANK OF CANADA CUTS ITS KEY INTEREST TO 0.75 PER CENT

OTTAWA - The looming threat of sliding oil prices forced the Bank of Canada to drop its trend-setting interest rate Wednesday, a surprising move that shows just how much the country's economic outlook has soured in a matter of months.

The central bank, which nudged its key rate down to 0.75 per cent from one per cent, said the rapid oil-price collapse has created many unknowns around economic growth in the oil-exporting nation.

https://ca.finance.yahoo.com/news/bank-canada-release-monetary-policy-report-exploring-oil-090010316.html

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