The U.S. Federal Reserve slashed it’s key interest rate by 0.75% this morning–in emergency fashion. It was their biggest cut in over 23 years.
The Bank of Canada (BoC) also lowered its key interest rate 1/4% saying, “Further monetary stimulus is likely to be required in the near term.” That suggests they may cut again at their next meeting March 4.
The BoC also cut their economic growth estimates and acknowledged little threat of inflation.
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