BOC Holds Key Interest Rate

Bank of Canada leaves rate at 1.75%

Key interest rate isn’t budging.

The Bank of Canada is leaving things status quo at 1.75%.

The central bank is also releasing updated projections for Canada…

  • Projected 1.3% annualized economic growth (rise from April forecast of 1.2%
  • Projected expansion of 1.9% in 2020 (down from previous call of 2.1%)

The bank is now projecting second-quarter growth at an annual pace of 2.3 per cent, up from its April call of 1.3 per cent.