Bank of Canada on a Tear, Cuts 50 bps

The Bank of Canada (BoC) cut the overnight policy rate by -0.5% (50 basis points, or bps) to 3.75%.

It was the fourth cut in four meetings starting in June, for a total of 125 bps. By comparison, the US Federal Reserve has made only one cut of 50 bps, and that wasn’t until September. And no other G10 bank has cut more than 75 bps.

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