Bank of Canada lowers interest rate

The Bank of Canada announced yesterday that it had cut its key interest rate by 25 basis points to 3.0 percent. Governor Tiff Macklem said that monetary policy can do little to ease the burden on the Canadian economy if U.S. President Donald Trump levies tariffs on Canadian imports. Trump has threatened that they will be 25 percent—and that they will be imposed on Canada 48 hours from now.