Bank of Canada cuts rates, says tariff war could be very damaging
- The Bank of Canada cut its key policy rate by 25 basis points to 3% while warning that a tariff war from the United States could cause major economic damage.
- The Canadian dollar rose slightly after the announcement, moving from 69.12 to 69.34 cents US.
- The bank's growth forecast for Canada was lowered to 1.8% in 2025, down from 2.1%, while inflation expectations rose to 2.3%.
- The Bank of Canada noted that a trade conflict could lead to lower GDP and higher prices, impacting the economic outlook significantly.
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Coverage Details
Total News Sources0
Leaning Left37Leaning Right9Center11Last UpdatedBias Distribution65% Left
Bias Distribution
- 65% of the sources lean Left
L 65%
C 19%
R 16%
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