Bank of Canada maintains interest rate

Posted: December 7, 2023 8:39 am
By Web Team

On Wednesday the Bank of Canada held the interest rate steady at five per cent.

The Bank Rate is at 5¼ per cent and the deposit rate at five percent.

In a statement, the Bank of Canada said that the global economy continues to slow and inflation has eased further. In the United States, growth has been stronger than expected.

The next scheduled date for announcing the overnight rate target is January 24.

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