The Bank of Canada today reduced its target for the overnight rate to 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%.

Prices will rise, the economy will suffer and the Bank of Canada can't lower interest rates enough to shield Canadians from the worst impacts of a prolonged trade war with the United States.

The Bank of Canada cut interest rates by a quarter percentage point to 2.75%, citing the trade battle with the US as a "new crisis" that could have a severe economic impact. Governor Tiff Macklem says the trade war is expected to "weigh on economic activity while also increasing prices and inflation.

Mark Carney, an economist with decades of experience in banking who is new to politics, is slated to become Canada's next leader. He says he'll fight against President Trump's threats of tariffs and making Canada the "51st state.

After 12 years of Prime Minister Justin Trudeau leading Canada’s Liberal Party, a new person has taken his place. On Sunday, former Bank of Canada governor Mark Carney was elect