Bank of Canada holds interest rate steady | CBC News

The Bank of Canada decided Wednesday to keep its trend-setting interest rate right where it is, at 4.5 per cent.

It’s the first time in more than a year that the central bank has decided not to raise its interest rate.

Although it will come as encouraging news to borrowers, the move was widely expected, as the bank signalled at its previous policy meeting and in statements since then that it was leaning toward keeping its rate steady.

The bank feels confident in standing pat because there is growing evidence that sky-high inflation is starting to ease.

More to come.