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

The Bank of Canada has lowered its key interest rate to 2.25 per cent.

The bank estimates that Canada’s gross domestic product will be about 1.5 percentage points smaller by the end of next year than it would have been without U.S. tariffs and the uncertainty they have ...