Tradelines News

Get the latest news and updates on cross-border customs and international trade.

Bank of Canada Holds Key Interest Rate Steady at 0.5%

Posted March 01, 2017

Under Economic Issues, International Trade Issues

(CBC News)

The Bank of Canada has decided to keep its trend-setting interest rate steady at 0.5 per cent on Wednesday.

The central bank, led by governor Stephen Poloz, elected to neither raise nor lower its target for the overnight rate, citing “significant uncertainties” weighing on the outlook for Canada’s economy.

Statistics Canada recently revealed the inflation rate jumped to 2.1 per cent in January, news that ordinarily perhaps would have compelled the Bank of Canada to raise interest rates to cool things down. Click here to read more.

Related: The Bank of Canada Keeps Urging Caution as Markets Show Signs of Life (Canadian Business)