Bank of Canada lowers key lending rate to 4.5%

Canada's central bank on Wednesday lowered its key lending rate to 4.5 percent, saying the second straight cut of 25 basis points was warranted due to slowing inflation. After an unexpected upturn in May, Canada's annual inflation rate slowed to 2.7 percent year-on-year in June, the bank said, paving the way for Wednesday's rate cut.