Bank of Canada holds key interest rate at 5% again

06 Mar Bank of Canada holds key interest rate at 5% again

Posted at 14:51h in Canada by

Business·Breaking

The Bank of Canada has held its key interest rate at five per cent again, as economists had expected.

Governor Tiff Macklem to hold news conference explaining rate decision at 10:30 ET

Jenna Benchetrit · CBC News ·
A building that says Bank of Canada on it.
The Bank of Canada is seen on Sept. 6, 2017 in Ottawa. The Bank of Canada has held its key interest rate at 5 per cent again, as economists had expected. (Adrian Wyld/The Canadian Press)

The Bank of Canada has held its key interest rate at five per cent again, as economists had expected.

The central bank said in a note on its website that it was still concerned about underlying inflation, and that it expects inflation to stay close to three per cent during the first half of this year before it slowly eases.

Bank of Canada governor Tiff Macklem will hold a news conference further explaining the rate decision at 10:30 a.m. ET.

WATCH | Inflation is down. So where are the interest rate cuts?: 

Inflation’s down. So where are the interest rate cuts?

After two years of aggressive interest rate hikes, inflation is seemingly back under control, causing many Canadians to start asking: Where’s the relief? CBC’s Peter Armstrong looks at whether the Bank of Canada has accomplished its goals and what we know about when rates could start to come back down.

More to come.

ABOUT THE AUTHOR

Jenna Benchetrit is a senior writer with the business content unit at CBC News. She has also covered entertainment and education stories. A Montrealer based in Toronto, Jenna holds a master’s degree in journalism from Toronto Metropolitan University. You can reach her at jenna.benchetrit@cbc.ca.

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