Bank of Canada Keeps Rates at 5%, Highest in 22 Years

The Bank of Canada decided to hold interest rates at 5%, the highest since 2001, due to cooling inflation and economic slowdown indicators. The Monetary Policy Report revised growth forecasts lower and extended the timeline to reach the inflation target. This decision, termed a 'hawkish hold,' suggests a potential for future rate hikes to control inflation. Experts discuss the implications, emphasizing the need to maintain a cautious stance to prevent market rallies.

What was the decision made by the Bank of Canada regarding interest rates?

What factors contributed to the Bank of Canada's decision to hold interest rates?

What is the expected economic growth rate for Canada in 2023 according to the Bank of Canada?

How does the Bank of Canada view inflationary risks in relation to their target?

What was the consensus expectation regarding the Bank of Canada's interest rate decision?