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By Reuters Staff
3 Min Read
TORONTO (Reuters) - The Bank of Canada on Wednesday left its key overnight interest rate unchanged at 0.25%, as expected, and said it would maintain its current policy of quantitative easing. The central bank reiterated that it would leave rates unchanged until economic slack is absorbed, currently expected at some point in 2023. It made the comments in a regular rate decision statement.
FILE PHOTO: Governor of the Bank of Canada Tiff Macklem walks outside the Bank of Canada building in Ottawa, Ontario, Canada June 22, 2020. REUTERS/Blair Gable
COMMENTARY
DOUG PORTER, CHIEF ECONOMIST AT BMO CAPITAL MARKETS