BoC Holds Interest Rate Steady Amid Global Market Turbulence

The Bank of Canada (BoC) made its seventh consecutive decision to keep the policy rate unchanged at 2.25%.

This move was due to the economy and inflation being in line with expectations, according to a statement from the bank.

The ongoing conflict in the Middle East is continuing to drive up energy prices, which was noted as a factor in the decision.

The BoC also observed that long-term bond yields have risen globally, including in Canada, and recent data confirms a broad-based recovery in the Canadian economy.