Bank of Canada interest rate decision coming today, no change expected

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OTTAWA — The Bank of Canada is expected to make its latest interest rate announcement later this morning.

The central bank is expected by economists to keep its key interest rate target steady at 1.75 per cent, where it has been set since October of last year.

However, investors will be watching carefully to see what the Bank of Canada has to say about its outlook for the economy at home and abroad.

A resilient Canadian economy has allowed the Bank of Canada to keep interest rates on hold even as its international peers have moved to ease monetary policy as the global economy has shown signs of slowing.

Even so, the central bank has warned that this resilience will be tested by persistent global trade conflicts and uncertainty.

Changes in the Bank of Canada’s key policy interest rate affects the prime rates at the major Canadian banks and, in turn, the rates Canadians pay for variable-rate mortgages and other variable-rate loans.

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