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HomeNewsCanadian NewsBank of Canada Announces Hold: Key Interest Rate Stays Put at 5%.

Bank of Canada Announces Hold: Key Interest Rate Stays Put at 5%.

Bank of Canada

On Wednesday, the Bank of Canada said that it will maintain its benchmark interest rate at five percent over the foreseeable future.

Bloomberg’s network of economists has reached a consensus that the slowdown in interest rates is consistent with their forecasts.

Ever since the policy rate was raised to five percent in July of 2023, the central bank has maintained the same level of interest rates.

The most recent inflation data from Statistics Canada indicates that inflationary pressures have continued despite the fact that the economy of Canada has slowed down in recent months. This makes the timing of prospective rate reduction more ambiguous.

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