Bank of Canada lowers overnight rate from 1% to 0.75%

The Bank of Canada is lowering its overnight rate to 0.75%.  The rate had been at 1% since September 2010.  This decision is based on the decline of oil prices in the recent months. 

In a statement today, the BoC said, "Outside the energy sector, we are beginning to see the anticipated sequence of increased foreign demand, stronger exports, improved business confidence and investment, and employment growth."

For a full summary on how this will effect the economy, inflation, growth of GDP and what we should be investing in for the future, you can read the article by clicking the link below. 

http://www.advisor.ca/news/economic/bank-of-canada-lowers-overnight-rate-target-173633?print