The Bank of Canada shocked markets today by cutting its key overnight lending rate by a quarter of a percentage point (0.25%), citing the economic threat posed by plunging oil prices.
Good News for those on a variable rate, but Bad News for those going on vacation to the States! Canadian dollar dropped by 1.2% already!
Read more: http://www.cbc.ca/news/business/bank-of-canada-shocks-markets-with-cut-in-key-interest-rate-1.2921370
