As Canada’s economy hits a speed bump, Bank of Canada keeps interest rate at 5%

The Bank of Canada is holding it key interest rate steady at five per cent.

This is the final rate decision of the year.

But the Bank warned further rate hikes may be in the cards if inflation doesn’t ease off.

The central bank has held the rate steady three times in a row after increasing it four- and three-quarter points since March of last year in an effort to cool inflation.

– with files from Vista Radio newswire