Canada cuts key interest rate to 2.25 pct amid economic weakness

OTTAWA, Oct. 29 (Xinhua) -- The Bank of Canada on Wednesday lowered its benchmark interest rate by 25 basis points to 2.25 percent, citing ongoing economic weakness caused by trade conflicts with the United States.

The trade conflict with the United States has diminished Canada's economic prospects. "The structural damage caused by tariffs is reducing our productive capacity and adding costs," Bank of Canada Gov