Darpan News Desk The Canadian Press, 25 Oct, 2023 09:38 AM
The Bank of Canada is keeping its key interest rate at five per cent, saying there are clearer signs that monetary policy is moderating spending and relieving price pressures.
But it hasn't ruled out future rate hikes as those pressures remain high.
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The Bank of Canada's aggressive interest rate hikes this year have raised the cost of interest charges it pays on settlement balances deposited in the accounts of big banks. That's while the income the central bank receives from government bonds it holds remains fixed.
