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BANK OF CANADA MAINTAINS KEY INTEREST RATE AT 5%

Posted by: Regina Chamber Admin - January 24, 2024

As expected by many economic experts, the Bank of Canada (BOC) announced Wednesday that it was holding the key interest rate at five per cent. In its announcement, the BOC also indicated it has begun discussing a possible timeline for cutting the rate.

Going forward, the BOC indicated it wants to see further and sustained easing in core inflation. Its focus will continue to be on the balance of supply and demand in the economy, wage growth, corporate pricing behaviour and inflation expectations.

To read the BOC announcement, click HERE.

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