© Reuters. FILE PHOTO: A sign is pictured outside the Bank of Canada building in Ottawa, Ontario, Canada, May 23, 2017. REUTERS/Chris Wattie/File Photo
OTTAWA (Reuters) – The Bank of Canada held its key overnight interest rate at a record low 0.25% as expected on Wednesday and said it would cut its weekly net purchases of government of Canada bonds to a target of C$2 billion ($1.6 billion) from C$3 billion.
In a statement, the central bank said it remained committed to keeping the interest rate unchanged until economic slack was absorbed. This is expected to happen some time in the second half of 2022.
($1 = 1.2458 Canadian dollars)
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.