Bank of Canada Pauses Rate Hikes

Bank of Canada announced no change to their overnight policy rate, leaving it at 4.5%.

This is the first pause in a year following a notable decrease to inflationary numbers, and lower than expected GDP growth.

However, as employment rates continue to hold strong with creation of thousands of new jobs, many economists are predicting that we won’t see a decrease until the end of this year, or early next year when inflationary numbers are closer to the desired 2% target.