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- BoC maintains its benchmark interest rates at 1.75%
BoC maintains its benchmark interest rates at 1.75%
The Bank of Canada (BoC) left its benchmark interest rates unchanged at 1.75 percent on Wednesday, as widely expected.
In its policy statement, the Canadian central
bank notes that the country’s recent economic data are in line with the projections
in its April Monetary Policy Report (MPR) and have reinforced Governing
Council’s view that the slowdown in late 2018 and early 2019 was temporary. In
this context, the degree of accommodation being provided by the current policy
interest rate remains appropriate, the BoC added. It also promises to remain data-dependent
and especially attentive to developments in household spending, oil markets and
the global trade environment.
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