OTTAWA - The Bank of Canada ditched its discussion of interest rate hikes Wednesday as it downgraded its 2019 growth forecast on a prediction the economy nearly ground to a halt at the start of the year. The central bank kept its key interest rate unchanged, as expected, and appeared to be in no hurry to move the interest rate any time soon. The central bank kept its key interest rate unchanged, as expected, and appeared to be in no hurry to move the interest rate any time soon. The Bank of Canada projected growth at an annualized rate of just 0.3 per cent in the first three months of 2019. “Given all of these developments, governing council judges that an accommodative policy interest rate continues to be warranted,” the bank said.

Source: thestar April 24, 2019 14:08 UTC