Bank of Canada keeps rate and expectations unchanged

The Bank of Canada issued its first policy announcement with new governor Stephen Poloz on Wednesday, and kept the benchmark overnight rate at 1%. Many had expected the introduction of a new governor to set Canada’s central bank on a new course than the one set by Mark Carney, the previous BoC governor.

The overnight rate is anticipated to stay steadily at the 1% mark for at least another year, providing the Canadian economy and inflation outlook remain the same. (full article)