Bank of Canada holds interest rate at 2.75%

The Bank of Canada , as widely expected, held its interest rate at 2.75 per cent for the second time in a row on Wednesday.

Before the decision markets had priced in only a 20 per cent chance of a rate cut.

The central bank held its rate steady at its last meeting in April, saying at the time that it needed more clarity on how the Canada-U.S. trade dispute would impact the economy.

More to come …