The Bank of Canada on Wednesday held interest rates steady and reduced its bond-buying program, saying the economy needed less help as it recovers from the COVID-19 pandemic, but warned that inflation would be higher than previously forecast in the near-term. The central bank said economic growth should pick up in the third quarter of 2021 after being weaker than expected in the first half of the year. It held its key overnight interest rate at a record low of 0.25%, as expected, and cut its weekly net purchases of Canadian government bonds to a target of C$2 billion from C$3 billion. “This adjustment reflects ... (full story)