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.

Meanwhile, Canada's annual inflation rate fell to 3.8 per cent in September as price pressures weaken across the economy. Most economists believe interest rates are already sufficiently high to restore price stability and return inflation to the Bank of Canada's two per cent target.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

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
Source: SooToday - 🏆 8. / 85 Read more »

Bank of Canada to leave rates on hold as economy stalls, analysts sayThe Bank of Canada (BoC) will leave interest rates on hold on Wednesday as the economy stalls, analysts said, though many see the central bank warning that...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »