Ottawa, 23 October (The Global Eye):
The Bank of Canada on Wednesday kept its key interest rate unchanged at 2.75%, while signalling that it remains cautious about economic growth amid ongoing global uncertainty.
Governor Tiff Macklem said the central bank is “monitoring the global situation closely” and will adjust its policy if necessary. The decision comes after months of economic volatility, with inflation showing signs of cooling but growth remaining fragile.
The Bank noted that while inflation is moving closer to its 2% target, risks remain due to geopolitical tensions, trade disputes and slower demand from key global economies.
The central bank emphasized that it will continue to assess incoming data before making any future changes to its policy rate.
Photo caption: Bank of Canada Governor Tiff Macklem speaks at a press conference in Ottawa.