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Buildings seen from Lake Ontario along the skyline of the city of Toronto, Ontario, Canada, on July 01, 2023.

Photo by Creative Touch Imaging Ltd./NurPhoto

Bank of Canada slashes interest rate, warns of tariffs

The Bank of Canada cut interest rates by half a point to 3.25% on Wednesday to kickstart some growth in the Canadian economy. Gov. Tiff Macklem indicated that further cuts would be more gradual.

Macklem said the outlook for the Canadian economy was uncertain, in part because President Donald Trump has threatened to impose tariffs on Canadian imports.

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bank of canadaeconomicsinterest ratestariffsgrowthcanada

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