Bank of Canada cuts its key interest to 0.75 per cent

  1/21/2015 |   SHARE
Posted in Mortgage News by Vanguard Realty | Back to Main Blog Page

OTTAWA - Bank of Canada governor Stephen Poloz says the economy has been suffering from the effects of an "oil shock," so he prescribed a remedy: an unexpected interest rate cut.

To deal with the impact of falling oil prices, Poloz lowered Canada's trend setting rate Wednesday from one per cent to 0.75 per cent, a move that blindsided the vast majority of experts.

Finance, Real Estate Market