Bank of Canada holds rates steady for fourth consecutive decision
Underlying inflation far too persistent, argues governor
The Bank of Canada (BoC) maintained its monetary stance on January 24 by keeping the overnight and deposit rates at 5% and the bank rate at 5.25%.
“There was a clear consensus to hold at the current policy rate,” said governor Tiff Macklem. “Our deliberations are shifting from whether we’ve done enough to how long we hold. But there’s a clear consensus: it’s premature to discuss reducing our policy rate.”
It is the fourth consecutive time the BoC has opted to hold interest rates. The bank
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