Bank of Canada Cut Interest Rate by Quarter Point to 2.25 Per Cent

The Bank of Canada has cut its interest rate by a quarter point, citing an economy struggling through ongoing trade disruptions.

The prime interest rate now sits at 2.25 per cent.

Governor Tiff Macklem says it’s believed that the rate will help to keep inflation below the Bank of Canada’s 2 per cent benchmark target as weak economic growth is expected for the remainder of the year.