There has been another interest rate cut by the Bank of Canada, but this time, the amount of the cut is scaled back.
The Bank announced on Wednesday morning that it had cut its policy rate by 25 basis points to an even three per cent.
This is the sixth consecutive time the Bank has lowered interest rates, but previous rate cuts have reduced basis points by 50.
The Bank has projected that the global economy will grow by three per cent over the next two years, and there are some encouraging signs closer to home.
"In Canada, past cuts to interest rates have started to boost the economy," read the announcement by the Bank. "The recent strengthening in both consumption and housing activity is expected to continue. However, business investment remains weak. The outlook for exports is being supported by new export capacity for oil and gas."
Despite positive signs for the Canadian economy, the Bank said there is plenty of uncertainty. The threat of 25 per cent tariffs on Canadian goods by the Trump administration has added to it.
"Setting aside threatened US tariffs, the upside and downside risks around the outlook are reasonably balanced," read the announcement. "However...a protracted trade conflict would most likely lead to weaker GDP and higher prices in Canada."
The report also cited Canada's job market, calling it "soft", though job growth has strengthened recently, and wage pressures have shown signs of laying off.
The Bank of Canada's next announcement is set for March 12.