The Bank of Canada surprised markets Wednesday with a 25 basis point cut
to its benchmark interest rate. It marks the first time since September
2010 that the bank has moved on rates and a surprise to most as the BoC was scheduled to raise rates in 2015.Most economists are predicting that we will now not see any interest rate hikes this year.
Below are five key takeaway messages from the rate cut, which brings the benchmark rate from 1% to 0.75%.
Possible Rise in Unemployment
Oil Price Uncertainty
Lower Inflation
New Financial Risks
Weak Canadian Economy
Click here to read the full article in the Financial Post.
