The Bank of Canada held its benchmark interest rate steady on Wednesday, noting that record high inflation is showing signs of cooling down.
The central bank meets eight times a year to decide where to set its trend-setting interest rate, which impacts borrowers and savers on rates for mortgages, savings accounts, and more.
The bank slashed its rate to a record low of 0.25 per cent at the start of the pandemic.
Under normal circumstances, a central bank would raise its rate to cool down a red hot economy and control inflation. It would cut its rate in order to stimulate
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