Bank of Canada widely expected to hold its key interest rate steady today

Forecasters are widely expecting the central bank to hold its key interest rate steady as the economy weakens and inflation slows.The Bank of Canada's aggressive rate hikes since March 2022 are weighing on consumers and businesses, as the economy shrank in the second quarter and the labour market eased.

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Bank of Canada expected to hold interest rate amid 'sluggish' economyBoC widely expected to hold key interest rate steady on Wednesday as the Canadian economy bends to higher interest rates and inflation resumes its downward trend
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