MNI: BOC Expects Key Rate Hold On Stable Inflation

Bank of Canada Governor Tiff Macklem affirmed Tuesday officials expect to hold the 2.25% policy rate for a while because inflation has been about on target for a year and is expected to remain around there.

"Governing Council sees the policy rate at about the right level to keep inflation close to 2% while helping the economy through this period of structural adjustment. Uncertainty is of course still very high. If the outlook changes, we are prepared to respond", Macklem said in the text of a speech he's giving in Montreal.