Bank of Canada holds rate at 2.25% as economic uncertainty looms

The Bank of Canada held its benchmark interest rate steady at 2.25 per cent for the fourth time in a row, but Governor Tiff Macklem warned the volatility of the global economy makes future announcements unclear. Macklem says the bank’s key rate is at about the right level right now if things progress as expected, but didn’t rule out the possibility of hiking the rate later this year.