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Bank of Canada In No Rush to Cool Economy With Rates

  • Benchmark rate remains at 1% after two consecutive hikes
  • Policy makers flag rising loonie, Nafta talks as concerns
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Canada's Morneau on Recession Risks, Nafta Talks

Corrected

The Bank of Canada indicated it’s in no rush to cool an economy that is very close to running up against capacity constraints, citing a long list of worries ranging from gains in the Canadian dollar to risks associated with growing protectionism in the U.S.

Policy makers led by Governor Stephen Poloz left the benchmark overnight rate at 1 percent Wednesday, after consecutive hikes at the bank’s last two decisions in July and September, and warned they will remain “cautious” when considering future hikes.