The Bank of Canada (BoC) is expected to keep its overnight rate on hold on Wednesday when it also releases new inflation and growth forecasts that should provide insight into the central bank's view on when borrowing costs may begin to ease. The BoC governing council has held rates steady at three consecutive policy meetings after last hiking in July to a 22-year high of 5.0%. Annual inflation in December was 3.4%, still higher than the central bank's 2% target but below a peak of 8.1% in June 2022.
The Bank of Canada on Wednesday held its key lending rate at five percent for the fourth time in a row, saying it remains concerned about stubbornly high inflation.
The Bank of Canada on Wednesday held its key lending rate at five percent for the fourth time in a row, saying it remains concerned about stubbornly high inflation.