Bank of Canada left interest rate unchanged


The Bank of Canada, following the results of the meeting on Wednesday, decided to keep the interest rate unchanged at the level of 1.75%. The overnight rate target is kept at 1%. The regulator said that core inflation in the country remains close to 2%. Inflation in January fell to 1.4% amid falling gasoline prices. Nevertheless, the Canadian Central Bank expects for most of 2019 the inflation rate to remain slightly below the target of 2%. These factors, according to the regulator, justify keeping interest rates below the neutral range. For a timely response by means of a possible increase in interest rates, in the future the Central Bank will monitor the dynamics of household spending, as well as the situation in the oil market and in global trade policy.

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