OTTAWA — The Bank of Canada held its benchmark interest rate steady for a fifth consecutive decision on Wednesday as it tries to support a turbulent economy without letting prices rise unchecked.
Governor Tiff Macklem also said that while the economy is weak, he wouldn’t say it’s in a recession.
The central bank’s policy rate remains at 2.25 per cent after the hold, which was widely expected by economists.
Bank of Canada governor Tiff Macklem said in prepared remarks that the economy was weaker than expected in the first quarter of the year as U.S. trade policy and the war in Iran spur geopolitical uncertainty. Global oil prices —
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