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Bank of Canada holds key interest rate

The Bank of Canada has set aside discussion of interest rate hikes, at least until the economy re-emerges from what it predicts will only be a temporary slowdown. The central bank kept its key interest rate unchanged Wednesday and appeared to be in no hurry to move the benchmark any time soon. Unlike the bank’s recent statements, the announcement made no mention of a need for future increases. The bank also cut its 2019 growth forecast, a number weighed down by its prediction the economy nearly ground to a halt at the start of the year.

The Canadian Press