- Bank of Canada kept its interest rate unchanged at 0.75%, the economy is expected to expand at about 2.5% on a quarterly basis in the second quarter
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Bank of Canada kept its interest rate unchanged at 0.75%, the economy is expected to expand at about 2.5% on a quarterly basis in the second quarter
The Bank of Canada (BoC) announced its interest rate decision on Wednesday. The BoC kept its interest rate unchanged at 0.75%. This decision was expected by analysts.
Canada's central bank said that the consumer price inflation is 1.0% due to falling energy prices, while the core consumer price inflation is close to 2%.
The BoC noted that the economy has stalled in the first quarter of 2015. The economy is expected to expand at about 2.5% on a quarterly basis in the second quarter until the middle of 2016.
The central bank expects real GDP to grow at 1.9% in 2015, 2.5% in 2016, and 2.0% in 2017.
The central bank also said that risks to the outlook for inflation are now balanced and risks to financial stability are evolving as expected.
The BoC decided that the current monetary policy remains appropriate.
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