Global News published this video item, entitled “Bank of Canada discusses decision to hold interest rate amid surging inflation | LIVE” – below is their description.
Bank of Canada Governor Tiff Macklem is set to discuss the central bank’s decision to hold its interest rate at rock-bottom levels on Wednesday, holding off on planned increases aimed at controlling surging inflation.
The central bank’s overnight rate remains at 0.25 per cent, a rate it adopted in a drastic drop in the early days of the COVID-19 pandemic.
The move is in keeping with the signal from the Bank of Canada late last year that it would begin to hike interest rates toward the middle of 2022. However, some economists predicted officials would move earlier in an effort to cut off surging inflation on housing and other consumer goods.
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