The Bank of Canada on Wednesday trimmed its key policy rate by 25 basis points to 3%, cut growth forecasts and warned Canadians that a tariff war triggered by the United States could cause major economic damage.

The Bank of Canada announced today that it will cut its policy interest rate by another 25 basis points to three per cent.

The Bank of Canada is expected to cut its policy rate by 25 basis points on Wednesday, amid widespread trade uncertainty with the United States. The central bank’s interest rate currently sits at 3.25 per cent,

A series of five consecutive Bank of Canada (BoC) interest rate cuts through 2024 has offered some relief to mortgage holders and at least a flicker of movement in the housing market, but U.S. President Donald Trump’s tariff threat might blunt the effects of another rate reduction on household budgets.