Bank Of Canada Leaves Interest Rates Unchanged For Third Straight Meeting
(RTTNews) - The Bank of Canada on Wednesday announced its widely expected decision to leave interest rates unchanged for the third straight meeting.
The Canadian central bank said it decided to maintain its target for the overnight rate at 2.25 percent, with the Bank Rate at 2.5 percent and the deposit rate at 2.20 percent.
The BoC said its decided to leave rates unchanged as risks to growth look tilted to the downside, while inflation risks have also gone up due to higher energy prices.
"We will continue to assess the impact of US tariffs and trade policy uncertainty, and how the Canadian economy is adjusting," the BoC said.
The BoC said it is also closely monitoring the unfolding conflict in the Middle East and assessing its impact on growth and inflation.
The Canadian central bank said it stands ready to respond as needed as the outlook evolves and reiterated its commitment to ensuring Canadians continue to have confidence in price stability through this period of global upheaval.
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