Canada's central bank cut its key interest rate by half a point Wednesday, reducing it to 3.75 percent and offering borrowers further relief as it claimed the battle against inflation had proven successful.
Canada had held its benchmark rate steady for almost a year at 5.0 percent, the highest level in two decades, before initiating a cut in early June. It was the first G7 country to begin trimming rates after a protracted period of inflation.
