Saskatoon Mortgage Broker shares article – Loonie rises as Bank of Canada holds key interest rate

Melissa Leong, March 15, 2016


The economic pieces are starting to fall into place for Stephen Poloz and the Bank of Canada, giving the central bank latitude to keep its key interest rate unchanged.

The dark clouds that have hung over the central bank Governor’s decision-making in recent months are beginning to clear. Exports are rebounding, fear of a global recession is fading and the price of oil is on the upswing again. The federal government is also poised to inject a hefty dose of fiscal stimulus in its March 22 budget to help revive the sluggish economy.

As a result, the central bank opted to keep its overnight interest rate unchanged at 0.5 per cent Wednesday – where it has been since last July, when the bank cut rates for the second time in 2015.

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