Bank of Canada Holds Steady on Interest Rate Target

The Bank of Canada has maintained its target for the overnight lending rate at 1.75 per cent, as expected by economists.

This decision was made after a review of the economy, which showed that inflation remains under control.

However, some analysts have expressed concerns about the potential impact on the housing market and consumer spending.

The Bank's next interest rate announcement is scheduled for March 2024, when it will reassess its monetary policy stance.