Bank of Canada on hold but watching economy’s ‘resilience’

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The Bank of Canada

The Bank of Canada’s governing council kept the policy rate unchanged today (October 30), but said the economy’s “resilience” was likely to be “tested” in the coming months.

The key overnight rate remains on hold at 1.75%. Policy-makers expect growth worldwide and in Canada to slow in the months ahead, but inflation to “track close to the 2% target”, notwithstanding a temporary dip as the effects of a previous spike in energy prices fade.

In summing up the outlook, the governing council said

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