Bank of Canada Rate Announcement

As expected, The Bank of Canada has announced that it is maintaining its key interest rate at 0.25 per cent.

The Bank of Canada reports that the annual inflation rate at 0.6% this year, rising to 1.2% in 2021 and 1.7% in 2022. The Bank of Canadas inflation target is 2%, they say it will maintain the current rate until that target is reached.