Benchmark rate remains at 1.75%
The Bank of Canada has left interest rates unchanged, with the benchmark rate staying steady at 1.75%.
With the US Federal Reserve moving down the path of interest rate cuts, Canada’s central bank is taking a diverging approach.
The Bank warned of rising trade tensions as possible weighing down economic growth – leaving out the fact that the federal government carbon tax is making life more expensive Canadians and damaging the economy.
Economic growth in 2019 is expected to be very weak, with just 1.3% GDP growth. And considering that is nearly identical to the population growth rate, the reality is that Canada’s economy actually isn’t growing at all.