BoC to announce key interest rate today
OTTAWA - The Bank of Canada announces its trendsetting policy interest rate today, widely expected to remain at one per cent, where it has sat for three years.
Traders are watching for any change in language in the accompanying statement that might alter a consensus that the central bank won't move on rates until late next year.
New Bank of Canada governor Stephen Poloz has largely stuck to the monetary policy set by his predecessor, Mark Carney.
Poloz has previously said he intends no changes as long as there's slack in the economy, inflation remains muted and household finances continue to improve.
Last week, the C.D. Howe Institute â€” a Toronto-based think-tank â€” called for the central bank rate to remain at one per cent through to early next year before raising it to 1.25 per cent by September 2014.