Bank of Canada Lowers Interest Rates by 50 Basis Points
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Bank of Canada reduces policy rate by 50 basis points to 3.25%
Bank of Canada reduces policy rate by 50 basis points to 3.25%
On Wednesday, the Bank of Canada announced that it has reduced its target for the overnight rate by 50 basis points to 3.25%, with the Bank Rate at 3.50% and the deposit rate at 3.25%.
The Bank said that it is continuing its policy of balance sheet normalization.
The next scheduled date for announcing the overnight rate target is January 29th.
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