Bank of Canada Maintains Key Rate at 1.75%
The Bank of Canada left its trend-setting interest rate untouched Wednesday as fresh economic developments — including the sharp drop in oil prices — threatened to delay future hikes.
The central bank’s decision Wednesday maintained its trend-setting rate at 1.75 per cent. It followed a quarter-point increase at the bank’s previous policy meeting in October.
Thanks to the strengthened economy, the bank has been on a gradual rate-hiking path for more than a year and has already raised the benchmark five times since the summer of 2017.