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    Home»World Economy

    Bank of Canada holds policy rate at 2.75%

    Team_NewsStudyBy Team_NewsStudyApril 16, 2025 World Economy No Comments2 Mins Read
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    Canada’s central financial institution has maintained its benchmark rate of interest as a precautionary measure in opposition to a world financial slowdown stemming from the affect of US tariffs. 

    The Bank of Canada on Wednesday introduced its coverage charge would stay at 2.75 per cent.

    “The key shift in path of US commerce coverage and the unpredictability of tariffs have elevated uncertainty, diminished prospects for financial progress and raised inflation expectations,” the financial institution mentioned in a press release.

    “Financial coverage can not resolve commerce uncertainty or offset the impacts of a commerce battle. What it might probably and should do is keep value stability for Canadians,” it added.

    The Canadian greenback rose on the announcement, leaving it up round 0.5 per cent in opposition to the US greenback in morning buying and selling.

    “Uncertainty stays very excessive, and till the federal election is over, we received’t be getting any extra readability as to the place our commerce relationship with the US goes,” mentioned Etienne Bordeleau Labrecque, vice-president and portfolio supervisor at Ninepoint Companions.

    Canadians will vote in a common election on April 28 with the risk to the financial system from Donald Trump’s tariffs a central concern for voters.

    Royal Financial institution of Canada economist Abbey Xu mentioned Wednesday’s determination was “one other shut name for policymakers”.

    “About 32 per cent of companies surveyed now anticipated a recession within the subsequent 12 months, up from 15 per cent within the earlier quarter,” she mentioned in a word to purchasers this week.

    The choice to carry charges comes as Canada’s inflation charge stays inside its 1 per cent to three per cent goal vary. Statistics Canada, the official authorities knowledge company, reported that the March charge was 2.3 per cent, down from 2.6 per cent in February.

    “The year-over-year slowdown within the all-items CPI was pushed by decrease costs for journey excursions and gasoline in March,” it reported on Tuesday. 

    Earlier this month Statistics Canada reported that the Canadian financial system had shed 33,000 jobs in March, the most important loss since January 2022.

    It mentioned that the unemployment charge rose barely to six.7 per cent, from 6.6 per cent in February.



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