Bank of Canada keeps interest rate unchanged at 0.75%

FXStreet (Mumbai) – Bank of Canada (BOC), on Wednesday, kept the interest rate decision at 0.75% as widely expected by the markets.

The details of the policy statement revealed the overall economic outlook is largely unchanged from the April policy statement. The statement also says the bank shall study the impact of firmer Canadian dollar (CAD).

On inflation, the bank says the CPI is higher on weaker CAD and sector specific factors, while stating the underlying trend inflation is 1.6%-1.8%.

The bank is also optimistic that the US economy returning to solid growth in Q2 after a slowdown in Q1 would boost Canadian exports and business investment.

Bank of Canada (BOC), on Wednesday, kept the interest rate decision at 0.75% as widely expected by the markets.

(Market News Provided by FXstreet)