Bank of Canada lowers rate to 0.25% amid coronavirus crisis

The Bank of Canada on Friday lowered a key interest rate to 0.25 percent as part of a drive to cushion the impact of the coronavirus pandemic

"This unscheduled rate decision brings the policy rate to its effective lower bound and is intended to provide support to the Canadian financial system and the economy during the COVID-19 pandemic," the bank said of the change in the so-called overnight lending rate.