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Bank of Canada Holds Rates Steady, Even Amid Global Easing Trend
The Bank of Canada left interest rates unchanged for a seventh straight decision and held off from signaling explicitly any immediate need to cut them. At a rate decision Wednesday, policy makers said the escalating trade war between China and the U.S. has undermined global economic momentum more than projected in July. At the same time, growth in Canada so far has been stronger than expected and inflation on target, suggesting current levels of stimulus are where they should be, they said. “In sum, Canada's economy is operating close to potential and inflation is on target. However, escalating trade conflicts and ... (full story)