Bank of Canada holds interest rate at 4.5%
The Bank of Canada has announced its decision to hold its key interest rate at 4.5%. This marks the fourth consecutive time that the central bank has left the interest rate unchanged, following a series of rate hikes over the past year.
The decision was largely expected by economists, who believe that the Canadian economy is in a stable position, with low unemployment and moderate growth. The Bank of Canada’s decision to hold the interest rate steady reflects its confidence in the economy and its belief that inflation is under control.
The central bank’s decision to hold the interest rate at 4.5% is also in line with the policies of other central banks around the world.
In recent months, several major central banks, including the US Federal Reserve and the European Central Bank, have held their interest rates steady, citing concerns about global economic growth and uncertainty in the global economy.
The Bank of Canada’s decision to hold the interest rate at 4.5% is likely to have a positive impact on the Canadian economy, as it will keep borrowing costs low for businesses and individuals. This, in turn, is expected to stimulate investment and spending, which could help to boost economic growth in the coming months.
Overall, the Bank of Canada’s decision to hold the interest rate at 4.5% reflects its confidence in the Canadian economy and its belief that inflation is under control. The decision is expected to have a positive impact on the economy, by keeping borrowing costs low and stimulating investment and spending.
