Posted AT 12:01 AM EST on 22/10/08
Central bank gives alert on economy
OTTAWA — Canada faces a long period of economic stagnation caused by a potent mix of global forces that lie largely beyond Canadian policy makers' control, the Bank of Canada suggested yesterday.
The central bank cut its key interest rate by a quarter of a percentage point yesterday – a move designed to bolster confidence and give borrowers a break. It also indicated that there likely will be more interest rate cuts to come.
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