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As Canada’s economy hits a speed bump, Bank of Canada keeps interest rate at 5%

The Bank of Canada is holding it key interest rate steady at five per cent.

This is the final rate decision of the year.

But the Bank warned further rate hikes may be in the cards if inflation doesn’t ease off.

The central bank has held the rate steady three times in a row after increasing it four- and three-quarter points since March of last year in an effort to cool inflation.

with files from Vista Radio newswire

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Brendan Pawliw
Brendan Pawliw
Since moving to Prince George in 2015, Brendan has covered local sports including the WHL’s Prince George Cougars, Prince George Spruce Kings, UNBC Timberwolves, Cariboo Cougars AAA, and Northern Capitals U18 female hockey teams. Career highlights include play-by-play during the Spruce Kings' BCHL championship runs in 2018 and 2019, including the Doyle Cup win. He also covered the 2019 National Junior A Championship, the 2017 Telus Cup, the 2022 World Women’s Curling Championship, and the 2022 BC Summer Games. Brendan is the news voice on 94.3 The Goat and Country 97 FM, reporting on crime, real estate, labour, and environmental issues. Outside of work, he officiates box lacrosse and fastball, sits on the Prince George Sports Hall of Fame board, and co-hosts the Hockey North podcast.

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