Bank of Canada holds interest rate unchanged at 0.25%

Economies.com
2020-06-03 14:31PM UTC

The Bank of Canada announced today holding the interest rate at 0.25% unchanged, in the bank's efforts and policy to ease the coronavirus economic impact.

 

The bank stated that the economic data show the coronavirus impact on the global economy amid uncertainty about a potential recovery.

 

However, financial conditions have slightly improved and commodity prices rose in the last few weeks, after a wide-scale drop due to the health crisis, which signals a potential recovery after the economic reopening measures.

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