Interest rates

Ottawa (Rajeev Sharma): The Bank of Canada held its benchmark interest rate steady on Wednesday, maintaining the policy rate at 2.25 per cent, while forecasting a gradual recovery the Canadian economy following the impact of U.S. tariffs The decision marks the central bank’s first rate announcement of the year and was widely anticipated by economists. The bank paused its rate-cutting cycle in December, and Governor Tiff Macklem said recent economic developments have largely unfolded in line with expectations. However, Macklem cautioned that uncertainty remains “unusually high,” citing ongoing geopolitical risks and the upcoming review of the Canada-U.S.-Mexico Agreement. He said…