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Bank of Canada Holds Key Interest Rate

OTTAWA -- The Bank of Canada is keeping its key interest rate target on hold at 0.25 per cent.

This is a breaking news update. Our earlier story follows.

The Bank of Canada will say this morning what it will do with its key interest rate at a time when there is very little economic drama for the first time in years.

The central bank's key rate has remained at 0.25 per cent since March when COVID-19 lockdowns plunged the economy into crisis.

Governor Tiff Macklem said in July that the rate would stay at near-zero until the country is well into a recovery and inflation is back at the bank's two-per-cent target.

Macklem has also said the central bank stands ready to do whatever is necessary to aid the economy as it recuperates from the COVID-19 crisis.

Click here to read more on this decision.

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Jon Nichols

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