The Bank of Canada has cut its key interest rate another 25 basis points to three per cent as Governor Tiff Macklem warns there's little the central bank can do to negate the economic impact of U.S. tariffs imposed on Canadian imports.

The Bank of Canada on Wednesday further cut its interest rate by 25 basis points, bringing the country’s monetary policy rate down to 3.0 percent. Tiff Macklem, the Bank of Canada governor, speaking on the rate cut,