The Bank of Canada kept its benchmark interest rate at 1.75 per cent on Wednesday. Economists who monitor the bank weren't expecting any change to the rate, which the central bank meets to decide on every six weeks. Nonetheless, an economy that's on track to grow by less than the current inflation rate is a recipe for low rates, which is why "an accommodative policy interest rate continues to be warranted," the bank said. The central bank's rate impacts Canadians by influencing the rates that retail banks give to savers and borrowers on products like mortgages and savings accounts. Andrew Kelvin, senior rates strategist at TD Bank, said he also thinks the bank is done with rate hikes.

Source: CBC News April 24, 2019 14:20 UTC