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Home Canada

Bank of Canada holds benchmark interest rate steady again

by Eric Boland
January 26, 2022
in Canada, COVID-19, Top News
Reading Time: 1 min read
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The Bank of Canada has decided not to raise its benchmark interest rate just yet.

Like many other central banks around the world, the bank slashed its core lending rate — known as the target for the overnight rate — at the onset of the pandemic in March 2020, to ensure that consumers and businesses had access to cheap lending in order to keep the economy afloat.

But two years of rock-bottom lending rates have been a major contributor to inflation, which rose to almost five per cent in Canada last month — its highest level in more than 30

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This story was originally published on  CBC News. To read the rest of this news worthy story, please visit https://www.cbc.ca/news/business/bank-of-canada-rate-decision-1.6328104?cmp=rss.

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Eric Boland

Eric Boland

Co-Founder of W-World Media Inc. Write about International Events, BC News and more for WNews.

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Covid-19 Status

Recovered
480,105,603
Deaths
6,297,080
Active Cases
37,325,524
Total Infected
523,728,207
Updated: May 20, 2022 05:46 am (GMT -8)
CountryConfirmedRecoveredDeaths
USA 84,799,040 81,491,282 1,028,337
India 43,131,822 42,592,455 524,323
Brazil 30,752,226 29,746,640 665,433
France 29,291,146 28,448,088 147,715
Germany 26,013,283 24,526,300 138,488
Updated: May 20, 2022 05:46 am (GMT -8)

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