Bank of Canada cuts key rate to 5.25 pct from 5.75

The Bank of Canada on Mar 6, 2001 cut the bellwether bank rate to 5.25 percent from 5.75 percent,and the overnight rate to 5.0 percent from 5.5 percent, saying weakening confidence could delay the economy's recovery in the United States and damage Canada's growth prospects in 2001.

"Since 23 January, the Bank's last fixed announcement date, there have been indications that the slowdown in the U.S. economy in the first half of 2001 could be more pronounced than expected, and there is a risk tha