The Bank of Canada cut its key interest rate by a quarter of a percentage point on Wednesday, widening the growing gap between interest rate policies in Canada and the U.S.
Experts say the gap between the two central banks is here to stay.
Mackenzie Investments senior economist Jules Boudreau says there will be a meaningful difference between rates in Canada and the U.S. for the next decade due to the two countries’ differing economies.
The Bank of Canada’s overnight rate is now three percent, after an aggressive succession of cuts last year beginning in June brought it down from a high of five percent….