Eb Chan Mortgage Associate

Bank of Canada 🏦 🇨🇦 holds key rate steady in fifth consecutive decision leaving the policy rate unchanged at 2.25% as it tries to chart a course through global uncertainty.

Bank of Canada governor Tiff Macklem says in prepared remarks that the economy was softer than expected in the first quarter of the year but global oil prices are also staying higher than first thought, which could keep the annual rate of inflation near three per cent for the next few months.

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Bank of Canada holds key rate steady in fifth consecutive decision The Bank of Canada held its benchmark interest rate steady in a fifth consecutive decision on Wednesday as it tries to support a turbulent economy without letting prices rise unchecked.