â€œWhile consumption growth remains strong, there are signs that household spending is moving more in line with the growth in household incomes,â€ said the bankâ€™s statement.
This was the fourth consecutive month holding rates steady. The next scheduled date for announcing the target overnight rate is April 12. A recent poll by Reuters showed a majority of analysts predicting May 31 as the date most likely for the next move.
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In a statement on the decision, the Bank of Canada said there is growing evidence of a rebalancing of demand.