India, April 16 -- Following a series of interest rate cuts over the past several months, the Bank of Canada on Wednesday announced its widely expected decision to leave interest rates unchanged.
The Bank of Canada said it decided to maintain its target for the overnight rate at 2.75 percent, with the Bank Rate at 3 percent and the deposit rate at 2.70 percent.
The accompanying statement noted increased uncertainty due to the major shift in direction of U.S. trade policy and the unpredictability of tariffs makes it unusually challenging to project GDP growth and inflation in Canada and globally.
The Bank of Canada said its April Monetary Policy Report subsequently presents two scenarios that explore different paths for U.S. trade policy....