Bank of Canada – Key Interest rate hold – March 8, 2023
This is the first rate hold after eight consecutive increases, bringing the Key interest rate from 0.25% to 4.5%!
Inflation is slowing which is the good news. A wait and see approach is now in the works.
External factors (the USA and Europe) will play into events going forward as they are talking of increasing rates. If they do and Canada does not follow suite our dollar will go down relative to theirs and we will get more inflation in any event. It is a complicated picture!