BoC Maintains Interest Rates Unchanged

The Bank of Canada (BoC) has decided to maintain its main interest rates unchanged during its policy meeting on Wednesday.

The overnight rate has been held at the effective lower bound of 0.25%, with the Bank Rate at 0.5%, and the deposit rate at 0.25%.

BoC is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) program, which continues at its current pace of at least $4 billion per week, according to a statement issued earlier toay.