-
Bank of Canada holds rates steady, sees ‘persistent’ slack in economy
The Bank of Canada is leaving its key interest rate unchanged at 0.75 per cent amid what it characterized as “complex adjustments” shaping the global economy. The central bank acknowledged Wednesday there is still “persistent” slack in the Canadian economy and that the U.S. performance was “weak” in the first quarter. But the longer-term trends looks better, the bank said in a statement that closely mirrored Governor Stephen Poloz’s recent optimism about a coming export and investment-led rebound. “The bank expects a return to solid growth in the second quarter [in the U.S.],” according to the ... (full story)