Bank of Canada to Maintain 0.5 Percent Benchmark Rate

The Canadian central bank will release on Wednesday the economic outlook of the country, however, the decision to kept the interest rate unchanged at 0.5 percent remain indecisive.

According to a combined forecast of 22 experts surveyed by Bloomberg News, they expect the Bank of Canada (BoC) would maintain its 0.5 percentage rate.

The latest adjustment made by the BoC was during mid-2015 with a 0.25 percentage point spearheaded by the decline in commodity costs.

The focus turned to the up-to-date report of Monetary Policy which is published quarterly which provide a breakdown of the predicted economic performance of Canada. While figures suggest a stable condition for the region considering the favorable January Gross Domestic Product which is the most recent monthly GDP available. The stat showed that there is a possible four percent growth within this year.

The semi-annual assessment further projected that the country will rose by 2.1 percent amid 2017-18.

Economists had guesstimate whether the financial institution will reach that point. Alongside the strong GDP, the employment growth has seen to strive gathering some steam.