Bank of Canada interest rate announcement

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The Bank of Canada kept its policy interest rate at 2.25 per cent on Wednesday – its fifth consecutive hold.

Governor Tiff Macklem said the path forward for monetary policy remains uncertain, given the combination of high oil prices and weak economic growth. The central bank, he said, could hike interest rates if oil prices remain high, but cut if trade talks with the U.S. go sideways.

Key moments:

• Bank of Canada holds policy rate at 2.25 per cent
• Macklem pushes back on recession talk
• Why inflation is lower in Canada than the U.S.
• What the pause means for prospective homebuyers and mortgage holders

Source: The Globe & Mail