The Bank of Canada is set to announce its interest rate decision, with economists widely expecting the central bank to hold its key rate
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At its last announcement on Jan. 25, the Bank of Canada announced a quarter percentage point rate hike, bringing its key rate to 4.5%.Sign up to receive daily headline news from the Calgary SUN, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.
Elevated borrowing costs are expected to slow the economy down this year as people and businesses pull back on spending. Recent economic data shows both the economy and inflation slowing, though the labour market was still running hot in January. However, if inflation proves to be stickier than expected, the Bank of Canada has said it is ready to jump back in and raise rates further.
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