National

Bank of Canada cuts benchmark rate to 2.75%

Darpan News Desk The Canadian Press, 12 Mar, 2025 09:43 AM

The Bank of Canada announces an interest rate cut as a cloud of uncertainty looms over the Canadian economy.

Economists polled by Reuters widely saw the central bank lowering its key lending rate to 2.75 per cent, which marks its seventh consecutive cut.

The decision comes as a trade war between Canada and the U.S. continues, dampening consumer and business confidence.

The trade spat has put the Bank of Canada in a difficult position as tariffs will likely result in a hit to economic growth, but it could also lead to a flare in inflation.

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