Bank of Canada lowers interest rates 0.25%

Bank of Canada lowers target for the overnight rate by 1/4 percentage point to 3 per cent, 15 July. In its press release the bank referred to "unanticipated developments" that bear on the outlook for inflation and economic activity in Canada.

Source: Bank of Canada

The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 3 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is