Insignia Consultants | Bank of Canada cuts rates to counter tariffs, will be cautious about future moves
Bank of Canada cuts rates to counter tariffs, will be cautious about future moves
4 hours ago
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OTTAWA, March 12 (Reuters) - The Bank of Canada trimmed its key policy rate by 25 basis points on Wednesday to 2.75% and warned of "a new crisis" as it tried to prepare the country's economy for the damage that President Donald Trump's tariffs could wreak.
The bank also said it would "proceed carefully with any further changes" to rates given the need to assess both the upward pressures on inflation from higher costs and the downward pressures from weaker demand.
