Bank of Canada Holds Interest Rates Steady, Projects Slower Growth Ahead as Loonie Falls
- Bank of Canada keeps interest rates unchanged at 5%, marking 4th time on sidelines in rate hike cycle
- Central bank projects economic growth will slip below 1% in 2023
- Loonie falls to 7-month low against US dollar after decision
- Policymakers see core inflation slowing, but risks of high inflation have increased
- Bank says more rate hikes possible if needed to tame inflation
