Bank of Canada kept the interest rate at 2.25%
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The Bank of Canada is keeping its key interest rate at 2.25 per cent for the second straight meeting, a move that was widely expected by analysts.
Governor Tiff Macklem said in his prepared remarks that the central bank’s economic outlook has not changed “significantly” since its launch in October.
Macklem said Canada’s economy is expected to grow modestly as it continues to adjust to the U.S. trade conflict and inflation is expected to remain near the central bank’s two per cent target.
“However, uncertainty around our forecast has increased, and the range of possible outcomes is broader than usual,” they wrote. “U.S. trade policy remains unpredictable, and geopolitical risks remain elevated.”
Along with Senior Deputy Governor Carolyn Rogers, Macklem is expected to hold a press conference explaining the decision at 10:30 a.m. ET. CBC News will broadcast it live on this page.
more to come.
