Canada's Central Bank cuts interest rate surprisingly significantly by 0.5 percentage points

The key rate will be reduced by 0.5 percentage points to 1.25 percent, the Central Bank on Wednesday in Ottawa. Economists had expected a smaller step of 0.25 p

Canada's Central Bank cuts interest rate surprisingly significantly by 0.5 percentage points

The key rate will be reduced by 0.5 percentage points to 1.25 percent, the Central Bank on Wednesday in Ottawa. Economists had expected a smaller step of 0.25 percentage points. Canadian Dollar / Euro (CAD/EUR) reductions 0,6701 EUR +0,0013 (+0,20%), except over-the-counter To the course data

Further interest rate possible

the spread of The Coronavirus that it represents a "negative shock" to the canadian economy and the world economy. The Central Bank was ready to cut interest rates if necessary. The decision is part of a global response to the crisis. Already on Tuesday, the US Central Bank had reduced the key interest rate by 0.50 percentage points. The Central banks and Finance Ministers of the G7 countries had signalled on Tuesday a willingness to take action.

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hyo/dpa
Date Of Update: 04 March 2020, 18:00

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