Bank of Canada holds key rate at 2.25%
The Bank of Canada is keeping its key interest rate unchanged at 2.25 per cent, noting the economy is showing signs of improvement despite months of sluggish growth.
In its latest policy report, the Bank of Canada says inflation is easing and consumer spending has remained resilient. However, it warns that uncertainty surrounding U.S. tariffs and the conflict in the Middle East could still slow economic growth.
The Bank of Canada says housing remains weak, while lower government spending, reduced vehicle production, and a drop in oil and gas investment also weighed on the economy earlier this year.
Related Articles
Contract awarded for construction of new fire station in Goulds
Newfoundland and Labrador Hydro extends power purchase agreement with Corner Brook Pulp and Paper
Newfoundland and Labrador Hydro extends power purchase agreement with Corner Brook Pulp and Paper
Equinor buys out BP in Bay du Nord development
Marine Atlantic and Unifor resolve collective bargaining impasse, avoiding labour disruption
Hospitality NL welcomes news of no labour disruption at Marine Atlantic