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.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.