The Bank of Canada on Wednesday held its key overnight rate at 5.0% as expected and forecast weak growth, while leaving the door open to more rate hikes to tame inflation that could stay above target for another two years. The bank increased rates 10 times between March 2022 and this July, with inflation peaking at more than 8% last year. Inflation in September dipped to 3.8% from 4.0% in August, and the central bank said it would average 3.5% through mid-2024. "There is growing evidence that past interest rate increases are dampening economic activity and relieving price pressures," the Bank of Canada (BoC) said ... (full story)