Mumbai, Jan. 30 -- The Bank of Canada cut interest rates by a quarter point,staying on a reduction path as consumer price inflation remains close to 2% After cutting rates by 50 basis points at each of its two previous meetings, the Bank of Canada decided to lower the overnight rate by 25 basis points to 3 percent, with the Bank Rate at 3.25 percent and the deposit rate at 2.95 percent. Lower interest rates are boosting household spending and the economy is expected to strengthen gradually and inflation to stay close to target, the bank said.
Published by HT Digital Content Services with permission from Capital Market....