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6 Sep

Bank of Canada maintains the rate

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Posted by: Aneta Zimnicki

Bank of Canada maintains the rate. Inflation in advanced economies has continued to come down. The Canadian economy has entered a period of weaker growth. The tightness in the labour market has continued to ease gradually. However, wage growth has remained. “With recent evidence that excess demand in the economy is easing, and given the lagged effects of monetary policy, Governing Council decided to hold the policy interest rate.” Statement ends again with template sentiment: “The Bank remains resolute in its commitment to restoring price stability for Canadians.”

Next BoC meeting in Oct 25, 2023. US Fed will make their next rate announcement Sept 20, 2023.