Bank of Canada governor Tiff Macklem responds to a question during a news conference at the Bank of Canada in Ottawa on April 13, 2022. held its key interest rate steady at five per cent, but hasn’t ruled out future rate hikes as price pressures remain high.
“With clearer signs that monetary policy is moderating spending and relieving price pressures, governing council decided to hold the policy rate at five per cent,” the“However, governing council is concerned that progress toward price stability is slow and inflationary risks have increased, and is prepared to raise the policy rate further if needed.”
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