Bank of Canada Holds Rates Steady, But Warns More Hikes Possible If Inflation Persists
• Bank of Canada leaves interest rates unchanged at 5%, still concerned about inflation risks as economy slows • Acknowledges slowing global and Canadian economies, but inflation remains a worry • Notes higher rates are restraining spending and business investment • Remains ready to further raise rates if needed to restore price stability • Gold market unfazed, with prices steady as BoC stance largely expected