Canada cuts rates to lowest level in 40 years
Citing the impact of the 11 September attacks on an already weakening economy, the bank cut its target for the overnight rate to 2 3/4 per cent.
The bank rate was also cut by three-quarters of a point to 3 per cent.
Analysts had forecast that the bank would cut rates by half a point. However, in a statement the bank warned that the economy was slowing
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