Bank of Canada keeps benchmark interest rates unchanged
After the last interest rate meeting this year, the Bank of Canada announced that it will maintain its benchmark interest rate at 0.25% and will maintain its weekly bond purchase plan of at least 4 billion Canadian dollars, which is in line with market expectations. The statement after the meeting pointed out that the breakthrough in the development of the new crown vaccine is increasing the market’s optimism about the end of the epidemic, and the local economic trend in the fourth quarter seems to be stronger than expected in October. However, the Central Bank of Canada reiterated that it will maintain the current interest rate level until the idleness of the economy is fully absorbed and inflation returns to 2%, but it is expected that this situation will not occur before 2023.
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