Bank of Canada Holds Key Rate
The Bank of Canada announced today that it is keeping its key rate unchanged. The Bank noted that while a slowing economy was anticipated in late 2018 and early 2019, the slowdown was in fact "sharper and more broadly based" than expected. While there was growth in employment and labour income, consumer spending, the housing market, exports and business investment all fell short of expectations. As a result, the Bank is now pointing to increased uncertainty about the timing of future rate hikes. The next rate-setting day is Wednesday, April 24th.
Source: Invis Financial
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