Bank of Canada lowered benchmark rate….
The Bank of Canada has lowered its benchmark rate again, making a sixth consecutive cut amid continuing signs of a slowing economy and falling inflation.
The central bank said on Wednesday morning that it had trimmed the key rate by 25 basis points, a move that brings it to 3% but also marks a smaller reduction than its previous two cuts.
That decision arrives after the annual inflation rate dropped to 1.8% in December, just below the Bank’s 2% target, spurred in large part by the federal government’s temporary GST break.
