Bank of Canada said Wednesday as it kept its key interest rate on hold and warned rising COVID-19 cases in Canada will weigh on near-term growth.The central bank said business restrictions in response to burgeoning case counts will hold down economic growth for the first three months of the new year and that the virus will “contribute to a choppy trajectory until a vaccine is widely available.”It also made a nod to federal aid to households and businesses that the bank said should maintain incomes during this second wave of COVID-19, and aid in recovery efforts.
Coronavirus vaccine could help economy recover faster than expected: BoC The Canadian economy took a nosedive in March and April when the pandemic first washed over the country,.