Bank of Canada holds key interest rate at 1.75%, downgrades economic forecast

ymeadmin Current Economic and Mortgage News, News

The Bank of Canada kept its key interest rate unchanged Wednesday as it downgraded its 2019 growth forecast based on its prediction the economy nearly ground to a halt at the start of the year. The central bank also appeared to be in no hurry to move the interest rate any time soon as the latest announcement made no mention of a need for future increases.

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