Bank of Canada Cuts Overnight Rate by 50 Basis Points
Abstract:
The Bank of Canada has just cut its key benchmark interest rate, the overnight rate, by 50 basis points (100 basis points = 1.00%) to 3.00%. The most recent peak for the overnight rate was 4.50% in the fall of last year. It appears that the BOC considers Canada’s economy to be at a turning point. While many of this year’s first quarter statistics continued to perform well, signs of gathering trouble have been cropping up.
Comments
No comments posted for this article yet
The Bank of Canada has just cut its key benchmark interest rate, the overnight rate, by 50 basis points (100 basis points = 1.00%) to 3.00%. The most recent peak for the overnight rate was 4.50% in the fall of last year. It appears that the BOC considers Canada’s economy to be at a turning point. While many of this year’s first quarter statistics continued to perform well, signs of gathering trouble have been cropping up.