Bank of Canada Holds Benchmark Rate Steady at 2.25%

The Bank of Canada has maintained its key overnight interest rate at 2.25% for the fourth consecutive policy meeting. This decision comes as the central bank navigates global inflationary pressures, exacerbated by geopolitical tensions in the Middle East affecting energy prices. Officials project consumer price inflation to temporarily increase to 3% in April before gradually returning towards the 2% target early next year, provided oil prices stabilize.