Bank of Canada cuts rates to support ‘complex adjustment’
Economy restructuring in response to oil price shock
The Bank of Canada cut its headline interest rate today (July 15) after growth in the first half of the year disappointed and inflation remained below target.
"Canada's economy is undergoing a significant and complex adjustment," the Bank of Canada said in a statement. "Additional monetary stimulus is required at this time to help return the economy to full capacity and inflation sustainably to target."
As such, the central bank cut interest rates by 25 basis points, bringing the headline rate
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