Bank of Canada holds policy rate
In an announcement on Wednesday, the Bank of Canada maintained its target for the overnight rate at 2.75 percent, with the Bank Rate at 3 percent and the deposit rate at 2.70 percent.
The bank states that while trade negotiations remain fluid, the global economy has been reasonably resilient. Inflation in the United States increased last month, and Canada’s exchange rate has appreciated against a weaker US dollar.
The Canadian economy has shown resilience so far against the trade war.