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BOC keeping interest rate at 5%

Darpan News Desk The Canadian Press, 25 Oct, 2023 09:38 AM

The Bank of Canada is keeping its key interest rate at five per cent, saying there are clearer signs that monetary policy is moderating spending and relieving price pressures.

But it hasn't ruled out future rate hikes as those pressures remain high.

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— Bank of Canada (@bankofcanada) October 25, 2023

The central bank's latest economic forecast suggests we're in for slower economic growth and higher inflation in the short-term

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