Bank of Canada cuts benchmark interest rate by quarter-point

The Bank of Canada cut its benchmark interest rate by a quarter point Wednesday as it warns trade uncertainty is already hurting the Canadian economy.  The move marks the central bank’s seventh consecutive interest rate cut and brings its key rate down to 2.75 per cent.  While inflation has been well-behaved and the economy was picking up speed heading into 2025, the Bank of Canada warns the tariff battle with the United States could change that in a hurry.  Bank of Canada governor Tiff Macklem says that trade uncertainty was already causing “harm” to the economy before tariffs were imposed last week.