OTTAWA, Oct. 30 (Xinhua) -- The Bank of Canada announced on Wednesday that it will continue keeping its key interest rate at 1.75 percent as widely expected by economic analysts.
Correspondingly, the bank rate is 2 percent and deposit rate is 1.5 percent.
The country's central bank said the outlook for the global economy has weakened further since its last report in July.
It said more than 35 central banks in advanced and emerging economies have eased monetary policy to address fading growth and soft inflation pictures in their countries.
"Governing council is mindful that the resilience of Canada's economy will be increasingly tested as trade conflicts and uncertainty persist," the bank said in a statement.
The bank said that ongoing trade conflicts and uncertainty are restraining business investment, trade and global growth, adding that it will monitor any changes to Canada's sources of strength, especially consumer spending and housing markets.
