The Bank of Canada interest rate is staying the same for another month.
On December 4, 2019, the Bank of Canada (BOC) announced the overnight interest rate will remain at 1.75% until at least January 22, 2020, the next scheduled announcement.
This marks no change to the overnight interest rate in 2019 as the 1.75% rate was set in October of 2018.
The BOC mentioned several factors in its decision to stay the interest rate, including global trade uncertainty and sources of strength in the Canadian economy — such as the housing market.
See the full text of the BOC announcement and discover what this means for the Canadian economic outlook on the Purview blog. Read it here: https://www.purview.ca/bank-of-canada-interest-rate-december-2019/