The Bank of Canada cut its key policy rate by 50 basis points on Wednesday to take it to 3.75 per cent. Here is the text of the central bank’s decision:

The Bank of Canada today reduced its target for the overnight rate to 3.75 per cent, with the Bank Rate at four per cent and the deposit rate at 3.75 per cent. The Bank is continuing its policy of balance sheet normalization.

With inflation significantly below the Bank of Canada's target it has cut its key rate by 50 basis points{ai:summary}<p>The Bank of Canada lowered its key policy rate by 50 basis points to 3.75 percent. This decision aligns with the bank's ongoing efforts for balance sheet normalization.  </p><p>#economy</p>

Bank of Canada cuts key policy rate by 50 basis points

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