Canada holds rates as concerns over investor confidence remain
Governor says country is undergoing difficult structural change
The Bank of Canada held rates today (December 10), having cut by 25 basis points at the two previous monetary policy decisions.
Governor Tiff Macklem said there were encouraging signs in the labour market as unemployment had ticked downward to 6.5% and employment in service sectors had shown resilience. However, he said that the bank’s principal view – that Canada was going through a difficult structural change that would take time to complete – had not changed.
Canada was still subject to one of
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