CBC: Bank of Canada expected to hold its key lending rate in decision Wednesday

The Bank of Canada is widely expected to keep interest rates on hold in its monetary policy decision on Wednesday. When the Bank of Canada last met, it raised its benchmark interest rate by a quarter point to 1.75 per cent. It was the fifth hike since last summer, further pushing up the cost of borrowing for Canadians. In the statement it released at that time, the central bank removed the word "gradual" in reference to the pace of further rake hikes. Some analysts read into the omission to mean that the bank may raise its overnight lending rate more quickly to get to a more neutral level of between 2.5 per cent and 3.5 per cent. Read More....


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