After eight consecutive rate hikes, the Bank of Canada is keeping its key interest rate at 4.5 percent
The Bank of Canada is holding its key interest rate at 4.5 percent.
The announcement comes after eight consecutive rate hikes since last March.
The central bank says it's keeping the rate steady due to its assessment of recent economic data.
However, further rate hikes could occur if inflation continues.
In January, the central bank said it expected to maintain its key interest rate if economic developments stay in line with its forecasts.
The bank also notes the annual inflation rate could fall to about three percent by the middle of the year.
In January, inflation was at 5.9 percent.
Pets Not Allowed at Thorold Cemeteries
Councillors Not Impressed with Frivolous Complaints
Standard Building to be Torn Down
ID of Human Remains Confirmed
Woman Charged After Pedestrian Killed
Cause of St. Catharines Standard building fire "undetermined"
Welland adopts 2026 Budget with 4.01% increase
Port Colborne Man Charged with Child Luring