Interest Rate Remains 1.75%

CBJ — The Bank of Canada has opted to maintain its key interest rate at 1.75.

Senior officials with the bank believe there are more indicators that the economy’s winter deceleration was a short-lived blip.

Bank of Canada Governor Stephen Poloz appears to be in no hurry to make a move on the rate, even as he points to economic improvements.

The bank says in a statement that there’s growing evidence the economy has been re-emerging in the second quarter of this year following a slowdown in late 2018 and early 2019.