Bank of Canada expected to hold key interest rate steady at 4.5 per cent today

OTTAWA –

The Bank of Canada is ready to announce its rate of interest resolution this morning.

Economists extensively 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 working hotter than anticipated.

Despite elevated rates of interest, the economic system continued to develop initially of the 12 months, whereas unemployment hovers close to file lows.

The Bank of Canada has stated it’s hoping to see the economic system sluggish additional, whereas working to get the nation’s annual inflation charge 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 development and inflation in its financial coverage report as we speak.

This report by The Canadian Press was first printed April 12, 2023