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BoC Holds Firm On Rates

The Bank of Canada has decided to maintain its benchmark interest rate at 5.00%. This decision was widely anticipated by the markets. In its statement, the Bank expressed concerns about the risks to the outlook for inflation and stated that it remains prepared to raise the policy rate further if necessary.
The Bank also noted that while high interest rates are restraining spending and economic growth has stalled, it wants to see further and sustained easing in core inflation.
The next rate announcement is scheduled for Wednesday, January 24, 2023

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