Bank of Canada cuts rate by 0.25%. US Fed followed suite same afternoon.

BoC says we’re now “about the right level”, suggesting this status quo for now.

Highlights from the announcement:
>Global financial conditions have eased since July
>CAD dollar has weakened slightly against USD
>Exports are down and business investment remains weak
>The labour market is soft, with slowing wage growth
>Excess capacity in the economy is expected to persist for some time
>Inflation is projected to stay near 2% over the next few quarters, 2% is the target

BoC acknowledged limits to what rate cuts can do, noting that structural damage from trade conflicts has reduced economic capacity and added costs. This making monetary policy a blunt tool in a slow recovery.

Next BoC meeting: December 10
Fed: same schedule