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Bank of Canada holds rate steady at 0.25% as expected

Published 09/09/2020, 10:16 AM
Updated 09/09/2020, 10:20 AM
© Reuters. FILE PHOTO: Governor of the Bank of Canada Tiff Macklem walks outside the Bank of Canada building in Ottawa

OTTAWA (Reuters) - The Bank of Canada on Wednesday held its key overnight interest rate steady at 0.25%, as expected, and said both the global and Canadian economies are evolving broadly in line with the scenario it set out in its July monetary policy report.

© Reuters. FILE PHOTO: Governor of the Bank of Canada Tiff Macklem walks outside the Bank of Canada building in Ottawa

The central bank also said it would continue with its large-scale asset purchase program at its current pace until the recovery is well underway.

Latest comments

I blew my account and thought the market will be berish
Don't carry out an trades based on Central Bank rate decisions unless it's a rate hike which is impossible considering the insane govt borrowing environment. So Central banks will keep rates low for a while even though inflation exceeds 2% target in order to keep the govt debt cheap for them to finance.
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