"The Bank of Canada is holding its key interest rate at 2.25 per cent, a move that was widely expected by economists after an encouraging round of economic data. The central bank said in a news release that it thinks the current rate is at "about the right level" to give the economy a boost while also keeping inflation close to its two per cent target rate."
"While the steel, aluminum, auto and lumber sectors have been pummelled by U.S. tariffs, which is weighing more broadly on business investment, "the economy is proving resilient overall," the bank said in its statement. Bank of Canada governor Tiff Macklem is expected to discuss the decision at 10:30 a.m. ET, alongside senior deputy governor Carolyn Rogers. That news conference will be carried live here. More to come"
Bank of Canada is holding its key interest rate at 2.25 per cent after an encouraging round of economic data. The central bank views the current rate as about the right level to boost the economy while keeping inflation close to the two per cent target. Steel, aluminum, auto and lumber sectors have been pummelled by U.S. tariffs, weighing more broadly on business investment. Despite sectoral challenges, the economy is proving resilient overall. Governor Tiff Macklem and senior deputy governor Carolyn Rogers will discuss the decision at 10:30 a.m. ET, and a live news conference will follow.
Read at www.cbc.ca
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