The Bank of Canada (BoC) released its interest rate decision on Wednesday. The central bank kept its interest rate unchanged at 0.50%. This decision was expected by analysts.
The BoC said that inflation in Canada was driven by lower energy prices.
The central bank noted that "Canada's resource sector continues to adjust to lower prices for oil and other commodities".
The BoC pointed out that the pace of the global recovery is unclear as uncertainty about growth prospects for China and other emerging economies increased.
Risks to the country's financial stability are evolving as expected, the central bank said.
The BoC lowered its interest rate to 0.50% from 0.75% at its last meeting in July.
|remaining time till the new event being published|
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.