The Bank of Canada maintained its key interest rate at 4.5% on Wednesday, as most economists had expected.
The central bank stressed that recent data reinforced its impression that inflation would continue to slow in the coming months.
Annual inflation slowed to 5.2% in Canada in February, falling below expectations for the second month in a row.
The Bank of Canada continues to expect inflation to retreat to 3.0% by mid-year, then to decline further to its target of 2.0% by the end of the year. end of 2024.
In a context where economic growth has been stronger than expected since the beginning of the year, the central bank has revised its forecasts for 2023 upwards, while revising them downwards for 2024.
The Bank of Canada says it will continue to assess whether interest rates are high enough to bring inflation back to target, while keeping the door open for further rate hikes if ever needed.
Further details will follow.
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