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Bank of Canada Lowers Benchmark Interest Rate by 25 Basis Points to 2.75%

The Bank of Canada has lowered its key lending rate to 2.75 per cent, which would mark its seventh consecutive cut.
March 12, 2025 by
Bank of Canada Lowers Benchmark Interest Rate by 25 Basis Points to 2.75%
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Canada’s Inflation Rises to 1.9% in January Despite GST/HST Tax Break

Inflation ticked up to 1.9% in January, even as the temporary GST/HST tax break helped lower some prices.

  • CPI: 1.9% (up from 1.8% in December)
  • CPI-median: 2.7% (up from 2.6% in December)
  • CPI-trim: 2.7% (up from 2.5% in December)

Labour Market Stagnates in February

  • Jobs: Net increase of 1,100 jobs
  • Unemployment Rate: 6.6% (unchanged from January)

Canada’s Economy Surpasses Growth Expectations in Q4 2024

Stronger consumer spending, increased business investment, and higher exports drove economic growth beyond forecasts.

  • Q4 GDP: 2.6% annualized growth (vs. expected 1.9%)
  • December GDP: 0.2% monthly gain (vs. expected 0.3%)
  • Preliminary January GDP Growth: 0.3% monthly gain

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