Borrowing costs in this country aren't going anywhere -- for now, at least.
The Bank of Canada opted Wednesday to keep its trend-setting interest rate at 0.5%.
In a statement, the central bank said while "uncertainty" continues for the global economy as a whole, the forecast for Canada's largest trading partner, the U.S, is looking up — something that could imply a rate hike down the line.
The Bank of Canada, of which Stephen Poloz is the governor, generally hikes rates when it is trying to pump the brakes on a hot economy and tame inflation, and cuts rates when it wants to stimulate the economy.
The bank cut its benchmark interest rate twice in 2015 before standing pat through 2016.
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