Canada holds rates as governor warns of “long climb out”

Bank of Canada facade

The Bank of Canada left its policy rate unchanged on July 15, as its governor said he expected a long period of low rates.

The decision leaves the interest rate at 0.25%. The central bank will also continue its government bond purchases at a pace of at least C$5 billion ($3.68 billion) per week, the statement says.

“It is going to be a long climb out,” governor Tiff Macklem said at the press conference following the rate decision. “We are being unusually clear that interest rates are going to

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