Bank of Canada keeps rates unchanged on weaker economic outlook
The central bank thinks it is still necessary to keep policy rate below its neutral range
The Bank of Canada has kept interest rates unchanged due to the weaker performance of the national and global economies.
At a governing council meeting today (March 6), policy-makers chose to keep the overnight rate at 1.75%, the bank rate at 2% and the deposit rate at 1.5%.
The governing council stressed the slowdown of the global economy had become more pronounced than forecast in its last monetary policy report, in January. As a result, “the outlook continues to warrant a policy interest
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