Bank of Canada holds rate steady and warns more increases still possible — even as signs mount they're over
After raising its benchmark lending rate 10 times since last year, the Bank of Canada has now held the rate steady for two meetings in a row, a sign the central bank may be content to stand on the sidelines for a while.
![Bank of Canada holds rate steady and warns more increases still possible — even as signs mount they're over](https://i.cbc.ca/1.7007268.1698241293!/fileImage/httpImage/image.jpg_gen/derivatives/16x9_620/boc-macklem.jpg)
![Tiff Macklem, governor of the Bank of Canada, speaks during an event at the Calgary Chamber in Calgary, Alberta, Canada, on Thursday, Sept 7, 2023. Macklem said recent evidence shows higher interest rates are working to slow the economy, and policy may be tight enough bring inflation to heel. Photographer: Gavin John/Bloomberg Bank of Canada governor Tiff Macklem gestures during a question and answer session at the Calgary Chamber in September 2023.](https://i.cbc.ca/1.7007268.1698241293!/fileImage/httpImage/image.jpg_gen/derivatives/16x9_620/boc-macklem.jpg)
After raising its benchmark lending rate 10 times since last year, the Bank of Canada has now held the rate steady for two meetings in a row, a sign the central bank may be content to stand on the sidelines for a while.