Bank Of Canada Leaves Interest Rates Unchanged Once Again
(RTTNews) - In a widely expected move, the Bank of Canada announced on Wednesday that it has once again decided to leave interest rates unchanged.
The Canadian central bank said it decided to hold 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.
In its accompanying statement, the BoC said the ongoing Middle East conflict and the resulting increases in energy prices and disruptions in global supply chains are weighing on global economic growth and pushing up inflation.
The BoC also noted U.S. President Donald Trump's administration continues to propose new tariffs and trade policy uncertainty remains elevated.
While the BoC said its Governing Council is continuing to look through the war's near-term impact on headline inflation, it stressed that it will not let higher energy prices become persistent inflation.
"As the outlook evolves, we stand ready to respond as needed," the BoC said. "The Bank is committed to maintaining Canadians' confidence in price stability through this period of global upheaval."
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