The Bank of Canada (BoC) has cut its key interest rate for the fourth time this year.

BoC announced on Wednesday, Oct. 29, that it’s lowering its lending rate by 0.25 points from 2.5 to 2.25 per cent. It also announced a bank rate of 2.5 per cent and a deposit rate of 2.20 per cent. The interest rate drop comes after another drop in September when the central bank lowered the lending rate by 0.25 points from 2.75 to 2.5 per cent.

The BoC attributed the rate cut to trade uncertainty.

“Trade relationships are being reconfigured, and ongoing trade tensions are dampening investment in many countries,” reads the announcement .

In addition, wage growth has slowed, and unemployment in Canada remained high at 7.1 per cent in September. That same month, inflation was at 2.4 per cent, slight

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