Canada holds rates steady

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The Bank of Canada left its benchmark overnight rate at 0.25% on Tuesday, and reiterated its promise to leave it at the record low until the second quarter of the year.

It also shortened the maturity on its term purchase and resale agreements to three months from six. This gives the central bank operational flexibility with regards to the rate hikes past June this year. The term purchase and resale agreement is a facility that allows the central bank to buy securities in the markets with an agre

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