BREAKING NEWS: Bank of Canada holds key interest rate steady at 0.5%

Bank of Canada Governor Stephen Poloz twice cut the central bank's benchmark interest rate year in an attempt to stimulate the economy.

The Bank of Canada today maintained its benchmark interest rate at 0.5 per cent.

The rate affects the saving and borrowing rates that Canadians get from their lending institutions banks. The central bank cut its rate twice last year in an attempt to stimulate the economy.

Headed into the decision, economists were evenly split as to whether the bank would cut again or stand pat.

More to come

Source: CBC.ca

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