The Bank of Canada is keeping its benchmark interest rate at 0.5 per cent as it sees the stronger world economy continuing to face “undiminished” uncertainty.
The bank said, “Economic data suggest that global economic conditions have strengthened.”
The decision to maintain the rate was widely anticipated by experts.
The Canadian economy had slightly exceeded expectations in the third quarter to grow at its fastest pace in more than two years, a data released last week showed.
That increase in real gross domestic product by 3.5 per cent marked a rebound from a second-quarter contraction.
The central bank said its decision also came as the economic environments in Canada and abroad had largely moved forward in line with its expectations.