Bank of Canada Press Release

PRESS RELEASE - Bank of Canada lowers key policy interest rate by 1/2 percentage point to 2 1/4 per cent.

The Bank of Canada today announced that it is lowering its target for the overnight rate* by one-half of one percentage point to 2 1/4 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 2 1/2 per cent.

Recent economic developments in Canada have been broadly consistent with expectations at the time of the last policy interest rate annou