By Rosalind Russell – An escalating trade war has prompted the Bank of Canada to cut its key interest rate for the seventh time in a row.
The BOC announced Wednesday morning that it’s cutting the rate by a quarter point to 2.75 per cent.
While inflation has been kept in check BOC officials say trouble with the United States could change that quickly.
Bank of Canada governor Tiff Macklem says in prepared remarks that trade uncertainty was already causing “harm” to the economy before tariffs were imposed last week.
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