Alexa

Canada leaves rate unchanged

Canada leaves rate unchanged

Canada's central bank has left its key interest rate unchanged and has said the need to boost the rate has diminished.
The Bank of Canada, which held its benchmark rate at 1 percent, previously suggested it would hike rates this year. But the bank said Wednesday the global economic outlook has deteriorated in recent weeks. It says the European sovereign debt crisis has intensified while the U.S. recession was deeper and its recovery shallower than previously reported.
The decision to leave rates unchanged was widely expected.


Updated : 2020-12-02 12:37 GMT+08:00