Bank of Canada Cuts Rates Again
Source: http://Blog.QualityStocks.net/?p=13040Posted on Tuesday, October 21st, 2008 | In Small & Micro Cap
Contributed by: QualityStocks (http://QualityStocks.net) -
Canada’s central bank reduced its key interest rate by a quarter of a point on Tuesday, citing the nation’s need to stimulate its economy to lessen the effects of an American recession. On October 8th the Bank of Canada, joined by other world banks, slashed rates in a unified effort to calm the global economy; Canada’s is the first central bank to make additional cuts following that action. The rate now stands at 2.25 percent.
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