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Bank of Canada holds rate steady at 0.25% as expected

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imageEconomy24 minutes ago (Sep 09, 2020 10:20AM ET)

(C) Reuters. FILE PHOTO: Governor of the Bank of Canada Tiff Macklem walks outside the Bank of Canada building in Ottawa

OTTAWA (Reuters) – The Bank of Canada on Wednesday held its key overnight interest rate steady at 0.25%, as expected, and said both the global and Canadian economies are evolving broadly in line with the scenario it set out in its July monetary policy report.

The central bank also said it would continue with its large-scale asset purchase program at its current pace until the recovery is well underway.

Bank of Canada holds rate steady at 0.25% as expected

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