The Bank of Canada kept the key interest rate steady at five percent

The Bank of Canada kept its key interest rate steady at five percent on Wednesday, saying it was too early to start cutting rates. According to the central bank, inflation has continued to decline and economic growth is slowing, but price pressures remain high. Canada's inflation rate eased to 2.9 percent in January, falling within the Bank of Canada's target range of one to three percent. Most economists expect the central bank to start cutting interest rates from the middle of this year.

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