Bank of Canada holds policy rate steady

Bank of Canada
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The Bank of Canada announced on March 10 that it was holding its policy rate, the overnight rate, at “an effective lower bound” of 0.25%. The governing council also left its bank rate and deposit rate unchanged, at 0.5% and 0.25% respectively.

The central bank confirmed it would continue its quantitative easing measures, at the rate of “at least” C$4 billion (US$3.2 billion) per week.

The central bank affirmed that the Canadian economy was recovering from the pandemic-induced crisis of 2020

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