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28 Oct

Bank of Canada will maintain current level of policy rate until inflation objective is achieved, recalibrates its quantitative easing program

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Posted by: Aneta Zimnicki

Bank of Canada maintains the rate steady. This means your variable rate mortgage remains unchanged. Will hold the policy interest rate at the effective lower bound until economic slack is absorbed. ‘In our current projection, this does not happen until into 2023.’ Next scheduled announcement is Dec 9.