The Bank of Canada opted to keep its benchmark interest rate at 0.5 per cent on Wednesday, the same level it’s been at for more than a year.
The central bank, led by Governor Stephen Poloz, said Wednesday that underlying economic conditions don’t warrant a change in policy at this time.
The bank’s key interest rate has a big impact on what savers get for their money and what homeowners pay for their mortgages.
The bank cut its core lending rate twice in 2015 in an attempt to stimulate the Canadian economy.
via CBC
