Bank of Canada holds key interest rate at 5% again

The Bank of Canada has held its key interest rate at five per cent again, as economists had expected.

The central bank said in a note on its website that it was still concerned about underlying inflation, and that it expects inflation to stay close to three per cent during the first half of this year before it slowly eases.

Bank of Canada governor Tiff Macklem will hold a news conference further explaining the rate decision at 10:30 a.m. ET.