Bank of Canada Keeps Rate Unchanged at 0.5% as Expected

The Bank of Canada opted to keep its benchmark interest rate at 0.5 per cent on Wednesday, the same level it’s been at for more than a year.

The central bank, led by Governor Stephen Poloz, said Wednesday that underlying economic conditions don’t warrant a change in policy at this time.

The bank’s key interest rate has a big impact on what savers get for their money and what homeowners pay for their mortgages.

The bank cut its core lending rate twice in 2015 in an attempt to stimulate the Canadian economy.

via CBC

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, he established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza