The Bank of Canada has lowered its key interest rate once again, cutting the target for the overnight rate by a quarter of a percentage point to 2.25 percent.

The move - announced Wednesday - is aimed at supporting a slowing economy that’s been hit hard by global trade tensions and weak business investment.
The Bank says the decision reflects ongoing uncertainty around U.S. trade policy and its effects on Canada’s economy.
Canada’s economy shrank by 1.6 percent in the second quarter, largely due to weaker exports and sluggish investment. Job growth has also softened, with unemployment holding at 7.1 percent in September and hiring slowing across multiple industries, particularly those affected by trade restrictions on lumber, autos, steel, and aluminum.
Still, household and government spending have provided some stability, and the Bank expects growth to gradually pick up next year as exports and business investment recover.