Bank of Canada keeps key rate at 0.5% amid stronger yet uncertain global economy
OTTAWA — The Bank of Canada is holding its benchmark interest rate at 0.5 per cent as it sees the stronger world economy continuing to face “undiminished” uncertainty.
In making the scheduled announcement Wednesday, the central bank said its decision also came as the economic environments in Canada and abroad had largely moved forward in line with its expectations.
“Economic data suggest that global economic conditions have strengthened,” the bank said in a statement.
“However, uncertainty, which has been undermining business confidence and dampening investment in Canada’s major trading partners, remains undiminished.”