Bank of Canada to Stay on Pause Despite Strong Economic Growth

Posted by David Logan

Date: April 12, 2023

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Canada’s economy was supposed to be stalling by now. It’s still charging ahead, creating a challenge for the central bank as it prepares to hold its policy rate at 4.5% for a second straight decision.

Bank of Canada officials have said they’re confident higher borrowing costs are working to slow demand. Economic data, though, keep surprising to the upside. The jobs market is running hot, and there are abundant vacancies. Wage pressures remain strong. Home prices, after a yearlong slump, may have found a bottom.

In January, when policymakers led by Governor Tiff Macklem first declared their intention to pause rate hikes, they

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