The Bank of Canada is sticking with its trend-setting interest rate of 1%.
The bank is points to several positives that could support another increase in the coming months, like the encouraging job and wage growth, sturdy business investment and the resilience of consumer spending despite heavy debt loads and higher borrowing costs.
Moving forward, the bank says it’s going to remain cautious and that it will be influenced by incoming economic data such as wage growth, employment, the evolution of Canada's economic capacity and how the economy reacts to higher interest rates.
