ICYMI - Interest rates will stay at record lows until 2023, Bank of Canada predicts
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In a candid press release on July 15, the Bank pledged to hold its overnight lending rate steady at 0.25 per cent until the country’s inflation returns to its target of 2 per cent.“It’s going to be a long climb out, and we recognize that households and businesses are facing an unusual amount of uncertainty,”“Against that background, we are being unusually clear that interest rates are going to be low for a long time.
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