Bank Of Canada Cuts Key Interest Rate To 4.25%

Central bank says “preliminary indicators suggest that economic activity was soft through June and July.”

The Bank of Canada has cut the benchmark interest rate by 25 basis points, from 4.5% to 4.25%.

This is now the third consecutive interest rate cut by the BoC.

The move comes as inflation eases, but is also a sign of growing concern over Canada’s declining per capita GDP and ongoing weak productivity.