The Bank of Canada leaves its key rate unchanged at 5%, a decision that confirms for the first time that rate hikes are over.
The central bank’s first decision of 2024 on interest rates was anticipated by economists, who were waiting more for the governor’s message for the future.
“The Governing Council wants to see core inflation continue to fall in a sustainable manner,” the central bank said. The Bank remains committed to restoring price stability for Canadians,” the message said.
More details to come.