by As expected, the Bank of Canada has held its key interest rate at 5 percent in today’s announcement.
The central bank says it’s made the decision with clearer signs monetary policy is moderating spending and relieving price pressures.
However, it says it’s also prepared to raise the rate further if needed.
The bank is projecting inflation to average about 3.5 percent through the middle of next year before gradually easing to 2 percent in 2025.