The bank is pointing to several positives, such as encouraging job and wage growth, sturdy business investment and the resilience of consumer spending.
The central bank said it held off this time in part because it expects the recent strength of the Canadian dollar to slow the rise in the pace of inflation.
Meanwhile, Canada's biggest banks are poised to benefit from Wednesday’s surprise interest rate hike.
Analysts widely anticipated a second rate hike in the coming months, but the timing of Wednesday's move came sooner than most had predicted.
Canadian banks hike mortgage rates as attention turns to interest rate’s influence on consumer behaviour
Tarek Mnaimne has been considering dipping his toes into the Canadian real estate market, particularly in Toronto or Montreal, but the rate hike from the central bank is giving him pause.
The Bank of Canada has hiked its benchmark interest rate to 0.75 per cent from 0.5 per cent, its first increase in nearly seven years, amid expectations of stronger economic growth this year.
With the Bank of Canada nearing its next policy decision, expectations of an interest-rate hike increased Wednesday after governor Stephen Poloz reiterated that his 2015 cuts appeared to
Uncertainties continue to obscure the economy's stronger-than-expected start to the year, the Bank of Canada said Wednesday as it stuck with its trendsetting interest rate of 0.5 per cent.
The Bank of Canada held its trendsetting interest rate unchanged on Wednesday, despite a recent run of stronger-than-expected data, saying it believes the economy has yet to show it can stick to th
The Federal Reserve has raised its benchmark interest rate for the second time in three months and signalled that further hikes this year will be gradual.