No change on interest rate as Bank of Canada sticks to 5%

The Bank of Canada has announced its trendsetting interest rate will remain steady at five per cent, in a move widely expected by economists. The central bank says it expects to turn its attention to how long interest rates stay high rather than whether more increases are needed.

No change on interest rate as Bank of Canada sticks to 5%
a bespectacled man gestures with his fingers as he speaks into a microphone.

The Bank of Canada has announced its trendsetting interest rate will remain steady at five per cent, in a move widely expected by economists. The central bank says it expects to turn its attention to how long interest rates stay high rather than whether more increases are needed.