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Bank of Canada cuts the overnight rate by 25 basis points

 Stephen S. Poloz governor of the Bank of Canada anounced today a rate cut of 25 basis points bringing the overnight rate to .75.% This is the 1st rate change in four years. Below is a link to a pod cast the governor made earlier today explaining why the change was made and his projection for the economy as related to the drop in oil prices and in the near term. 

 

Bank of Canada cuts the overnight rate by 25 basis points ...........click here for web cast ...more info

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