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Bank of Canada holds policy rate at 2.75%

Decision comes as country faces economic uncertainty from US trade war

Canada’s central bank has maintained its benchmark interest rate as a precautionary measure against a global economic slowdown due to the impact of US tariffs. 

The Bank of Canada on Wednesday announced its policy rate would remain at 2.75 per cent.

“The major shift in direction of US trade policy and the unpredictability of tariffs have increased uncertainty, diminished prospects for economic growth and raised inflation expectations,” the bank said in a statement.

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