Canada’s central bank lowered its key interest rate by half a percentage point on Wednesday and called President-elect Donald Trump's threat to impose sweeping new tariffs on Canada “a major source of new uncertainty.”
The Bank of Canada's decision marked the fifth consecutive reduction since June and brings the central bank’s key rate down to 3.25%. Forecasters were widely expecting a big rate cut after the November labor force survey showed the unemployment rate rose to 6.8%.
