BoC seen to leave rates unchanged even as economy accelerates

TORONTO: The Bank of Canada (BoC) is expected to leave interest rates unchanged at its meeting tomorrow, despite recent economic strengthening, and pin its hopes on activity cooling as higher borrowing costs sink in, analysts say.

Last month, the BoC became the first major global central bank to pause its rate-hiking campaign after lifting its benchmark rate to a 15-year high of 4.5%. It said no further tightening would be needed if the economy slows or even moves into a slight recession, as it expects.