• The Bank of Canada (BoC) kept its key overnight rate steady at 5% on Wednesday as expected but dashed the hopes of borrowers seeking relief, saying underlying inflation meant it was too early to consider a cut.
  • Governor Tiff Macklem said he could not put rate cuts on a calendar and noted that core inflation measures were too high. Overall inflation is 2.9%, still well above the bank’s 2% target.

https://www.reuters.com/markets/bank-canada-keeps-rates-hold-says-too-early-consider-cut-2024-03-06/