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In an effort to boost economic activity and maintain inflation close to the 2% target, the Bank of Canada (BOC) lowered its key policy rate by 50 basis points to 3.75% Wednesday, in line with market expectations.
Governor Tiff Macklem said there was a "clear consensus" that 50 basis points was appropriate.At 3.75%, the target for the overnight rate remains restrictive when compared to the neutral rate estimated to be between...

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