The Senate voted Wednesday to approve a resolution that would block President Trump's tariffs on Canada, a day after the chamber rebuked the president with another vote to block tariffs on Brazil.

The Bank of Canada lowered interest rates to 2.25 per cent on Wednesday, but cautioned that monetary policy can't fix the structural economic damage caused by the U.S. trade war. The central bank said it made the 25-basis-point cut as weakness ripples through the Canadian economy and with inflation expected to stay close to the bank's two per cent target.

Canadian households struggling with the high cost of things like mortgages, auto loans and others impacted by interest rates could see some relief soon if the Bank of Canada cuts rates Wednesday.

The bank estimates that Canada’s gross domestic product will be about 1.5 percentage points smaller by the end of next year than it would have been without U.S. tariffs and the uncertainty they have ...