Bank of Canada Says Rate Increases Are Coming

OTTAWA—The Bank of Canada held its main interest rate steady at 0.25%, but said rate increases are on the horizon to deal with elevated inflation and an economy running at or near full tilt.

Gov. Tiff Macklem said the decision Wednesday marked the end of emergency policies to support the economy through the pandemic. In the fall, the central bank ended its large-scale asset-purchase program, or quantitative easing, based on economic progress to date. “We’re signaling to Canadians that they can expect a rising path for interest…