Bank of Canada holds interest rates, for now

The Bank of Canada held steady on rates today as inflation pressures and an uneven economic recovery had many expecting the central bank would move to increase the cost of borrowing.
Citing Omicron and inflation that remains well above target rates, the bank removed its forward guidance suggesting future rate hikes are coming. The bank also released its Monetary Policy Report, which forecasts the economy will grow by 4% in 2022.