Bank of Canada expected to hold key interest rate at 4.5% – National | 24CA News

The Bank of Canada is ready to announce its rate of interest choice Wednesday morning.

Economists broadly anticipate the central financial institution will proceed to carry its key rate of interest regular at 4.5 per cent, even because the economic system is operating hotter than anticipated.

Despite elevated rates of interest, the economic system continued to develop initially of the yr, whereas unemployment hovers close to file lows.

The Bank of Canada has mentioned it’s hoping to see the economic system sluggish additional, whereas working to get the nation’s annual inflation fee again to its two per cent goal.

In February, inflation fell to five.2 per cent, marking the second month in a row inflation got here in decrease than forecast.

The central financial institution may also launch its up to date financial projections for progress and inflation in its financial coverage report at present.