The Bank of Canada has decided to keep its policy interest rate steady for the fourth consecutive time. The bank stated that discussions about monetary policy have shifted from raising borrowing costs to when they should lower them due to the Canadian economy being in a state of ' excess supply .
' This decision maintains the policy rate at 5%, which is a two-decade high. The bank's language also hinted at the possibility of future rate cuts.
Source: Financial Digest (financialdigest.net)
Bank Of Canada Interest Rate Borrowing Costs Monetary Policy Excess Supply Rate Cuts
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