Bank of Canada cuts key lending rate to 0.50%

GMT 14:23 2015 Wednesday ,15 July

Arab Today, arab today Bank of Canada cuts key lending rate to 0.50%

Bank of Canada
Ottawa - Arab Today

Canada's central bank cut its key lending rate by a quarter-point to 0.50 percent on Wednesday over sluggish economic growth, which has been hit hard by the falling price of oil.

"The Bank’s estimate of growth in Canada in 2015 has been marked down considerably from its April projection," the Bank of Canada said in a statement.

 

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