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Bank of Canada Set to Hold Amid Oil Crisis: Decision-Day Guide
Bank of Canada Governor Stephen Poloz is expected to hold borrowing costs steady Wednesday, with investors eager for clues on how the country’s unfolding oil crisis will affect plans for future rate increases. Analysts anticipate policy makers will leave the benchmark overnight interest rate at 1.75 percent in a rate decision at 10 a.m. in Ottawa, before returning to a hiking path next month. The central bank has hiked five times since mid-2017, including at its last meeting in October. Poloz is trying to return borrowing costs to more normal levels -- possibly as high as 3 percent, according to recent statements. ... (full story)