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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 said that Governing Council judged it
appropriate to maintain the current level of the overnight rate target, adding
that future interest rate decisions would be guided by the Bank’s continuing
assessment of the adverse impact of trade conflicts against the sources of resilience
in the Canadian economy - notably consumer spending and housing activity.
Fiscal policy developments were also said to be figured into the Bank’s updated
outlook in January.
The BoC noted that
the ongoing trade conflicts and related uncertainty are still weighing on
global economic activity, and remain the biggest source of risk to the outlook.
In this context, commodity prices and the Canadian dollar have remained
relatively stable, the Bank adds.
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