The Bank of Canada (BoC) released its interest rate decision today. The BoC kept its interest rate unchanged at 1.00%. This decision was widely expected by analysts.

Canada's central bank said the housing market is "stronger than anticipated". The BoC added that "the risks to the outlook for inflation remain roughly balanced".

The timing and direction of interest hike will depend on "how new information influences the outlook and assessment of risks", so Canada's central bank.