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BANK OF CANADA MAINTAINS INTEREST RATE AT 5%

Posted by: Regina Chamber Admin - March 6, 2024

For its fifth consecutive meeting, the Bank of Canada announced on Wednesday morning that it was maintaining its overnight interest rate at 5%.

When making the announcement, BOC governor Tiff Macklem indicated that it was still too early to lower the policy interest rate.

Most economists expected BOC to maintain the current interest rate as the inflation rate is still near 3% and inflationary pressures persist.

To read the BOC media release, click HERE.

Barbara Shecter of the Financial Post wrote about the announcement. Here story can be read HERE.

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