The Bank of Canada ended its longest period of inaction since the 1950s with a rate cut it calls “insurance” against the potentially destructive effects of the collapse in oil prices. Calling the oil-price shock “unambiguously negative” for the Canadian economy, Bank of Canada Governor Stephen Poloz said a cut to 0.75 per cent from 1 percent in its key lending rate was necessary to stave off emerging risks such as weak inflation and a real-estate downturn.
Posted on: Thu, 22 Jan 2015 05:49:04 +0000
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