Bank of Canada cuts rate

TORONTO (AP) -- Canada's central bank has cut its key interest rate by a quarter-point to 2.25 percent.

The move Tuesday follows an unscheduled half-point reduction Oct. 8 in cooperation with other major central banks in an effort to lubricate lending and boost the global economy.

A cut was widely expected, with many economists urging a half-point reduction in the bank's target for the overnight rate amid growing signs the Canadian economy is being dragged into a significant slowdown.

(Copyright 2008 by The Associated Press. All Rights Reserved.)


You must be logged in to post comments.

Username:
Password (case sensitive):
Remember Me:

WVLT VOLUNTEER TV

6450 Papermill Drive Knoxville, TN 37919 Phone - (865) 450-8888; Fax - (865) 450-8869
Copyright © 2015 WVLT-TV Inc. - Designed by Gray Digital Media - Powered by Clickability 31690124 - local8now.com/a?a=31690124
Gray Television, Inc.