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Tuesday, June 22, 2021
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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

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