After eight consecutive rate hikes, the Bank of Canada is keeping its key interest rate at 4.5 percent
The Bank of Canada is holding its key interest rate at 4.5 percent.
The announcement comes after eight consecutive rate hikes since last March.
The central bank says it's keeping the rate steady due to its assessment of recent economic data.
However, further rate hikes could occur if inflation continues.
In January, the central bank said it expected to maintain its key interest rate if economic developments stay in line with its forecasts.
The bank also notes the annual inflation rate could fall to about three percent by the middle of the year.
In January, inflation was at 5.9 percent.
Public Health Asking for $42-Mill
Fort Erie Increasing Pressure on Niagara Health
Young Offender Arrested in Vape Store Theft
150th Birthday Celebrated at Montebello Park
City Encouraged to Go After Funding
Cost of Renewing Vows Could Rise
GM Investing in St. Catharines
NRP Investigating Fatal Pelham Crash