The Bank of Canada held its benchmark interest rate steady at 0.5% on Wednesday, the same level at which it has been since last summer.
The bank's rate, known as the target rate for overnight loans, affects the rates that Canadians get offered from retail banks for their savings accounts and mortgages. Eight times a year, the central bank meets to decide where to set the rate, based on how the economy is performing.
In its decision on Wednesday, the central bank said: "The fundamentals remain in place for a pickup in growth" in the economy.
None of the 25 economists polled by Bloomberg who follow the central bank expected a rate change in either direction on Wednesday.
