03/08/2020
Citing the coronavirus, rail blockades, a teachers’ strike in Ontario and even lousy winter weather in some parts of the country, The Bank of Canada lowered its overnight target rate to 1.25 percent on March 3. It’s the 1st reduction since 2015 and the first 50 basis points shave since, ironically, March 3, 2009, during the financial crisis:
Citing the coronavirus, rail blockades, a teachers’ strike in Ontario and even lousy winter weather in some parts of the country, The Bank of Canada (The Bank) lowered its overnight target rate by 50 basis points to 1.25 percent on March 3. It’s