The Bank of Canada (BoC) released its interest rate decision today:

• The BoC kept its interest rate unchanged at 1.00%;
  
• Consumer inflation increased to around 2%, sooner than expected;
  
• Core inflation also increased but remains below 2%;
  
• The pace of inflation has been caused by higher energy and import prices;
  
• The central bank lowered its GDP growth forecasts to 2.2 and 2.4 per cent, this year and next;
  
• The BoC expects Canada's economy to return to full capacity full capacity around mid-2016;
  
• The central bank is neutral with respect to the timing and direction of the next change to the interest rate.