Bank of Canada cuts its key interest to 0.75 per cent
1/21/2015
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Posted in Mortgage News by Adam Campoli| Back to Main Blog Page
OTTAWA - Bank of Canada governor Stephen Poloz says the economy has been suffering from the effects of an "oil shock," so he prescribed a remedy: an unexpected interest rate cut.
To deal with the impact of falling oil prices, Poloz lowered Canada's trend setting rate Wednesday from one per cent to 0.75 per cent, a move that blindsided the vast majority of experts.
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