Bank of Canada maintains its rate at 5.0 %
In its recent decision, the Bank of Canada has opted to maintain the key policy rate at 5.0%. This move comes after assessing data as of October 2023, which indicates that the inflation rate stands at 3.1% and is expected to gradually move toward 2.5% by the third quarter of 2024. Bank of Canada Governor Tiff Macklem expressed optimism, stating, “This monetary policy tightening is proving effective, and interest rates may now be sufficiently restrictive to guide us back to...
