Bank of Canada cuts interest rate to 2.5% as GDP shrinks, job market softens
Published on: Sept. 17, 2025, 8:28 p.m. | Source: The Economic Times
Bank of Canada has reduced its key interest rate to 2.5% amidst growing economic concerns. Governor Tiff Macklem cited job losses, a GDP drop in the second quarter, and weakened business investment as key factors. Rising unemployment, now at 7.1%, and the impact of tariffs on industries like auto and steel also influenced the decision.
