Bank of Canada holds rate steady at 2.75% amid trade war uncertainty

News Snapshot:

The Bank of Canada held interest rates steady on Wednesday, pausing its easing campaign amid massive uncertainty caused by U.S. President Donald Trump’s erratic and destabilizing trade war. The central bank’s governing council voted to hold the policy rate at 2.75 per cent. This follows seven consecutive rate cuts, which have lowered Canadian borrowing costs considerably since last summer. Governor Tiff Macklem said the bank hit pause to give itself time to assess the fallout from Mr. Trump’s attempt to remake the North American economy and global trading system. Since returning to office in January, the President has imposed crippling...