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.