A cyclist rides past the Bank of Canada in Ottawa on Sept. 17, 2025. Photo by THE CANADIAN PRESS/Adrian Wyld

Here’s the Bank of Canada’s official statement for its rate decision:

The Bank of Canada today reduced its target for the overnight rate by 25 basis points to 2.25 per cent, with the Bank Rate at 2.5 per cent and the deposit rate at 2.20 per cent.

With the effects of U.S. trade actions on economic growth and inflation somewhat clearer, the Bank has returned to its usual practice of providing a projection for the global and Canadian economies in this Monetary Policy Report (MPR). Because US trade policy remains unpredictable and uncertainty is still higher than normal, this projection is subject to a wider-than-usual range of risks.

While the global economy has been resilie

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