Bank of Canada leaves rates unchanged, #USDCAD moving higher with barrier option at 1.3400

Posted: 2017-03-01 15:43:38 | Author: Predator Research Predator Research

The Bank of Canada held interest rates steady on Wednesday as it stayed focused on the "significant uncertainties" facing the economy, even while acknowledging fourth-quarter growth may have been stronger than anticipated.

In an unusually short statement, the central bank said it was looking past the temporary impact of higher energy prices that drove inflation above its 2 percent target in January, noting that muted underlying inflation continued to point to material excess capacity.

The bank said it was continuing to monitor the risks contained in its January Monetary Policy Report (MPR), which included the lack of clarity over what policies new U.S. President Donald Trump will enact.

The bank kept the benchmark interest rate at 0.50 percent, as was widely expected.

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