Weaker Canadian Economy, End of Counter-Tariffs Led to Interest Rate Cut: Bank of Canada

Canada’s weakening economy and the lifting of retaliatory tariffs on goods from the United States contributed to the Bank of Canada’s decision to cut its interest rate, the bank says.

The Bank of Canada released a summary of deliberations by its governing council that led to the decision to cut the rate to 2.5 percent from 2.75 percent on Sept. 17.