The Bank of Canada is poised to cut its key policy rate by another 50 basis points on Wednesday as weak unemployment numbers and poor growth underscore an economy that needs support, economists and analysts said.

The Bank of Canada lowered its interest rate by 50-basis points to 3.25 per cent on Wednesday. Economists were largely expecting another weighty cut following a quarterly GDP report that saw growth come in below the central bank's projection and a jobs report that showed an uptick in the unemployment rate.

Canada's central bank on Wednesday lowered its key lending rate by 50 basis points to 3.25 percent, seeking to aid a slowing economy facing uncertainty following a tariff threat from