This article was last updated on April 16, 2022
Canada: 
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The Bank of Canada has surprisingly announced to have lessened its main interest rate by a quarter percentage point as it says that the oil-price have shaken the economy and are dragging down inflation. Furthermore, the bank said that the oil prices are anticipated to affect everything from exports to business and consumer spending.
The bank have reduced its rate on overnight loans between commercial banks to 0.75 percent, howevet the decision was least expected by any of all 22 economists in a Bloomberg News survey. The bank’s rate evidently directly influences everything from car loans to mortgages. It had been unchanged at 1 percent since September 2010 and was last cut in April 2009. A senior economist at BMO Capital Markets in Toronto, Sal Guatieri, admitted that “it’s a shocker,” adding that “it is an aggressive move. It speaks volumes about where the Bank of Canada sees the economy and inflation going.”
Quite noticeably, policymakers are trying to coop with the impact of loss in rates of Canada’s top export, crude oil, which fell to less than $50 a barrel from $107 this summer. The Canadian currency has already depreciated more than 2 cents against its U.S. counterpart according to today’s rate decision, whereas two-year bond yields plunged 25 basis points to as low as 0.63 percent.
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