Bank of Canada keeps benchmark rate at record low

The Bank of Canada opted to keep its benchmark interest rate steady at a record-low 0.25 per cent Wednesday, saying the pandemic recovery “continues to require extraordinary monetary policy support.”

The bank said in a statement that it intends to hold the policy interest rate until the economy is recovered, possibly in the second half of 2022, moved up from an earlier prediction of 2023.

The central bank meets every six weeks to set its interest rate based on whether