Bank of Canada keeps rate steady at 0.25%, maintains pledge of it staying low until 2023
The Bank of Canada opted to keep its benchmark interest rate steady at 0.25 per cent on Wednesday, noting that Canada's economic recovery from COVID-19 is proceeding in line with expectations.
The bank said that while new infections and lockdowns continue to hold back Canada's economy, stronger demand for energy has pushed up the price of oil, which is giving it a boost. And news of looming vaccines rolling out is also helping.
Original Article Source Credits: CBC News, https://www.cbc.ca/
Article Written By: NA
Original Article Posted on: Dec 09, 2020
Link to Original Article: https://www.cbc.ca/news/business/bank-of-canada-benchmark-interest-rate-1.5834049