Bank Of Canada: Overnight Rate Target Will Be Held At 1.75%
The Bank of Canada expects economic growth to pick up in the second quarter of 2019, and for housing activity to stabilize due to population gains and improved global financial conditions.
Given these developments, the Governing Council has judged that an accommodative policy interest rate continues to be warranted
They will continue to evaluate the appropriate degree of monetary policy accommodation as new data arrives.
Specifically, the Bank of Canada is monitoring developments in household spending, oil markets, and global trade policy, all which impact Canada’s economic growth and outlook.
The next scheduled date for announcing the overnight rate target is May 29, 2019.
To learn more: Bank of Canada official press release