Bank of Canada has decided to leave the overnight rate the same at 1.75%. This means prime will remain at 3.95%.
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The Bank of Canada is keeping its key interest rate on hold in a decision that positions the country as an exception among advanced economies already responding to the weakening world economy.
Governor Stephen Poloz’s team says the domestic economy has held up well in many respects and inflation has been close to target. They warn, however, that Canada isn’t immune to the negative effects of slowing global growth.
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