“There is nascent evidence that the global economy is stabilizing,” says the Bank.
The Bank of Canada is holding interests rates steady, amid what they call a stabilizing global economy.
In a statement, the Bank said “There is nascent evidence that the global economy is stabilizing,” and expect economic growth to increase in the global economy in the near-term.
The Canadian Dollar jumped following the move, while short-term bond yields increased as well.
The vast majority of economists had expected rates to be held steady.