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Bank of Canada holds rate, suggests more hikes likely at more cautious pace
– canadianbusiness.com
The Bank of Canada left its benchmark interest rate unchanged Wednesday following two straight hikes but suggested future increases are still likely, albeit at a more gradual pace.
In its scheduled announcement, the central bank said it held off this time in part because it expects the recent strength of the Canadian dollar to slow the rise in the pace of inflation.
To make its case, the bank also pointed to the substantial, persistent unknowns around geopolitical developments as well as U.S.-related fiscal and trade policies, such as the renegotiation of the North American Free Trade Agreement.
Governor Stephen Poloz has introduced two rate hikes since July _ at consecutive policy meetings _ in response to the economy’s impressive run over the last four quarters. The increases removed the two rate cuts introduced in 2015 as insurance following the collapse in oil prices.
The bank suggested Wednesday that it will stick to its rate-hiking trajectory, although at perhaps a more-tentative pace…
In its scheduled announcement, the central bank said it held off this time in part because it expects the recent strength of the Canadian dollar to slow the rise in the pace of inflation.
To make its case, the bank also pointed to the substantial, persistent unknowns around geopolitical developments as well as U.S.-related fiscal and trade policies, such as the renegotiation of the North American Free Trade Agreement.
Governor Stephen Poloz has introduced two rate hikes since July _ at consecutive policy meetings _ in response to the economy’s impressive run over the last four quarters. The increases removed the two rate cuts introduced in 2015 as insurance following the collapse in oil prices.
The bank suggested Wednesday that it will stick to its rate-hiking trajectory, although at perhaps a more-tentative pace…
