Bank of Canada sees interest rates at record lows until 2023

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The Bank of Canada on Wednesday said it expects interest rates to remain at current record lows until 2023, and that a second wave of coronavirus infections would have a pronounced impact on near-term economic growth.

The central bank held its key overnight rate at 0.25 per cent but tweaked its asset purchase program to shift towards longer-term bonds, which it says have a more direct influence on the borrowing rates most important for households and businesses.

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Original Article Source Credits:   Global news , https://globalnews.ca/

Article Written By:  Julie Gordon and David Ljunggren

Original Article Posted on:  October 28, 2020

Link to Original Article:  https://globalnews.ca/news/7426675/bank-of-canada-economic-outlook-coronavirus/

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