Bank of Canada Leaves Rates Unchanged at 2.25%, Gold Holds Steady at C$5,712 per Ounce

According to Kitco News, the Bank of Canada left its overnight rate unchanged at 2.25% today, with the Bank Rate at 2.5% and the deposit rate at 2.20%. Spot gold, denominated in Canadian dollars, last traded at C$5,712.21 per ounce, up 0.24% on the day, while U.S. dollar-denominated spot gold traded at US$4,062.20 per ounce, up 0.26%.

The BoC adopted a cautious, wait-and-see approach to inflation, noting that Canada's economy is showing signs of improvement with growth picking up and inflation projected to ease gradually. The central bank said it will continue to assess economic strength and the inflation outlook, prepared to adjust monetary policy as needed amid global uncertainties.