Rate cut to 2.75, due to economic uncertainty because of the tariffs.
https://apple.news/AkhRMILOCT_qUDJLC6R2Jxg
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The widely expected move lowers the benchmark policy rate to 2.75 per cent. This is the bank’s seventh consecutive cut since it began easing monetary policy last summer as pandemic-era inflation faded.
“We ended 2024 on a solid economic footing. But we’re facing a new crisis,” Governor Tiff Macklem said in a press conference opening statement, according to the prepared text. “Depending on the extent and duration of new US tariffs, the economic impact could be severe. The uncertainty alone is already causing harm.”
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