Canada: BoC keeps policy unchanged, rate at 1%

The BoC left its rate unchanged at 1% in the March monetary policy meeting. “With continued slack in the Canadian economy, the muted outlook for inflation, and the more constructive evolution of imbalances in the household sector, the considerable monetary policy stimulus currently in place will likely remain appropriate for a period of time, after which some modest withdrawal will likely be required, consistent with achieving the 2 per cent inflation target", says the statement.