Bank of Canada holds key interest rate at 5.0 per cent, but leaves door open for future hikes [Video]

The Bank of Canada hit pause on its interest rate hiking cycle on Wednesday, leaving its policy rate unchanged at 5.0 per cent.

But the central bank said in a statement accompanying the announcement that it was “prepared to increase the policy interest rate further if needed” as it “remains concerned about the persistence of underlying inflationary pressures.”

Canada’s annual inflation rate ticked back up to 3.3 per cent in July from 2.8 per cent the month before.

Mackenzie Gray joins us now with the latest.

For more info, please go to https://globalnews.ca/news/9941362/bank-of-canada-interest-rate-september/

Subscribe to Global News Channel HERE: http://bit.ly/20fcXDc
Like Global News on Facebook HERE: http://bit.ly/255GMJQ
Follow Global News on Twitter HERE: http://bit.ly/1Toz8mt
Follow Global News on Instagram HERE: https://bit.ly/2QZaZIB
#GlobalNews #canada #boc #finance #money #bankofcanada