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Bank of Canada slashes overnight rate by 0.5% in response to coronavirus
By Joannah Connolly / Glacier Media Real Estate
Economic uncertainty prompts first 50-point cut since 2008 recession; could result in increased buying power pushing up real estate prices
Responding to global economic uncertainty in the face of the spreading coronavirus, the Bank of Canada has cut its overnight interest rate by 50 basis points this morning (March 4) to 1.25 per cent. This is the first time that the Bank of Canada has cut its overnight target rate by 50 points in a single move since the 2008 economic recession.…
Source:: Bank of Canada slashes overnight rate by 0.5% in response to coronavirus
March 4, 2020
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