“This decision is in response to the recent sharp drop in oil prices, which will be negative for growth and underlying inflation in Canada”
Rate Dropped to 3/4 Per Cent
The Bank of Canada announced today that it is lowering its target for the overnight rate by one-quarter of one percentage point to 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cen ...