Canada cuts rates half a point

The Bank of Canada lowered rates to 3% on Tuesday, a move in line with market expectations.

Analysts expected the central bank to make its second-straight 50-basis-point cut following comments by Mark Carney, the governor, that the US slowdown was set to be deeper and more prolonged than previously expected, and a fourth consecutive fall in inflation which put the core measure at 1.4%, more than half a point below the 2% target. The central bank noted both factors on Tuesday.

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