8.6 C
New York
Tuesday, June 22, 2021
Home Business Bank of Canada commits to keeping benchmark rate at 0.25% during COVID-19...

Bank of Canada commits to keeping benchmark rate at 0.25% during COVID-19 recovery


Canada’s central bank says the economic recovery from COVID-19 will need help from policymakers, which is why the bank is committing to keeping its benchmark interest rate at 0.25 per cent for as long as necessary.

The bank said Wednesday that it will keep its benchmark rate, known as the target for the overnight rate, right where it is.

The move was exactly what economists had been expecting, and the bank explained its rationale by noting that all signs suggest the economy is recovering just about how the bank predicted it would in July, when it made its last interest rate decision.

More to come



Source link

Today news
Today News 1 runs four of the western GTA’s most influential media websites, offering news, food, lifestyle and entertainment coverage for millions to the Golden Horseshoe and GTA regions. The independently-run, online news source was founded in 2019 and specializes in everything from breaking news to food and restaurant, arts and entertainment and lifestyle coverage.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Researchers investigate the possible environmental cost of sunscreen

As the weather gets warmer and Canadians slather on sunscreen to enjoy the heat, some environmental scientists are worried about how our sun...

Why an Italian museum unleashed bacteria on Michelangelo’s marble masterpieces

When it came time to clean sculptures by Michelangelo at the Medici Chapels in Florence, Italy, conservators knew they needed a new approach....

The fight for Muslim representation in Hollywood — and the danger of falling behind

Last week, Emmy-winning actor and the star of last year's music-biopic Sound of Metal, Riz Ahmed, made a grim observation. Looking at the dismal...

A peek inside the cartoon debauchery of Regina’s Daarian Woroniak

It was Daarian Woroniak's father who first found an adequate description of his work: cartoon debauchery.  A recent example is a painted...

Recent Comments