Text of the Bank of Canada’s latest interest rate decision

News Snapshot:

OTTAWA — The Bank of Canada cut its key policy rate by a quarter of a percentage point on Wednesday, bringing it to 2.75 per cent. Here is the text of the central bank's decision: ——— The Bank of Canada today reduced its target for the overnight rate to 2.75 per cent, with the Bank Rate at 3 per cent and the deposit rate at 2.70 per cent. The Canadian economy entered 2025 in a solid position, with inflation close to the 2 per cent target and robust GDP growth. However, heightened trade tensions and tariffs imposed by the United...