BoC maintains its benchmark interest rates at 1.75%
22.01.2020, 15:17

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 in determining the future path for its policy interest rate, Governing Council would be watching closely to see if the recent slowdown in growth is more persistent than forecast.

The BoC also noted that Canada's economy has been resilient but indicators since the October Monetary Policy Report (MPR) have been mixed, and data "indicate that growth in the near term will be weaker, and the output gap wider", than projected in October.

It now estimates Canada's GDP will grow by 1.6 percent in 2020 and 2 percent in 2021, following a 1.6 percent growth in 2019. The Canadian business investment and exports are seen to contribute modestly to growth, supported by stronger global activity and demand.

Meanwhile, inflation is forecast to stay around the 2 percent target over the projection horizon, with some fluctuations in 2020 from volatility in energy prices.

© 2000-2020. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at

Live Chat E-mail
Choose your language / location