The Central Bank of Canada announced this morning at 10am a cut to its interest rate. A reduction from 1% to 0.75%.
This, obviously comes as the result of the the low Canadian Dollar and the recent and significant drop of oil prices, which is the number one export of Canada.
You can't ever think about any possible raise of interest rates, when other countries offer the same goods and services at lower prices. In order to remain competitive with other Countries, meaning being able to retain companies, attract investments and export goods and services, you have to provide the same or better costs of business: either reduce interest rates, or reduce the salaries, or offer zero (or low) taxes... something has to give.
Anyway, more about Central Bank of Canada decision on: www.centrabankofcanada.ca, or www.financialpost.com, or www.theglobleandmail.com.
