On Wednesday, the Bank of Canada cut its benchmark interest rate to 0.50 percent in what is the second move by fiscal regulatory to try to stimulate its flagging economy this year. The 25 basis point reduction is aimed to try to revive growth projections for the second half of 2015 and was immediately felt throughout Canadian markets.
iShares MSCI Canada
The iShares MSCI Canada Index (ETF) (NYSE: EWC) has over $2.2 billion dedicated to 94 large- and mid-cap stocks in Canada. This exchange-traded fund is down over 9 percent this year and fell over 1 percent intra-day, as the interest rate change was announced.
EWC is now trading near multi-year lows and has yet ...
/www.benzinga.com/trading-ideas/long-ideas/15/07/5674555/canadian-etfs-fall-in-response-to-interest-rate-cut alt=Canadian ETFs Fall In Response To Interest Rate Cut>Full story available on Benzinga.com
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