BREAKING: BoC aggressively cuts rates in surprise move

Canadians watching closely as BoC makes historic interest rate decision

The Bank of Canada (BoC) has made a surprise announcement today, cutting its key interest rate by 50 basis points to 0.25%. This is the second rate cut in just over a month, and the largest single-step cut since the financial crisis of 2008.

Canadians left wondering what the future holds

The move has sent shockwaves through financial markets, and is sure to have a significant impact on the Canadian economy. Canadians are watching closely to see how the rate cut will affect their mortgages, savings, and overall financial well-being.

Economic uncertainty drives BoC decision

The BoC's decision comes amid growing concerns about the economic impact of the COVID-19 pandemic. The virus has caused widespread business closures and job losses, and has led to a sharp decline in consumer spending. The BoC is hoping that the rate cut will help to stimulate the economy and prevent a deeper recession.

Canadians urged to stay calm and informed

In a statement, the BoC said that it is "committed to taking all necessary actions to support the Canadian economy during this challenging time." The BoC also urged Canadians to stay calm and informed, and to seek professional advice if they have any concerns about their financial situation.

Stay tuned for updates

As the situation continues to develop, CTV National News will provide updates on the BoC's decision and its impact on the Canadian economy. Stay tuned for the latest news and analysis.