OTTAWA—The Financial institution of Canada stored its benchmark in a single day rate of interest on maintain and its ahead steerage unchanged, even because it warned that the Omicron variant of Covid-19 had launched extra uncertainty into the nation’s financial restoration.
The central financial institution mentioned Wednesday in a short assertion that latest knowledge recommend the financial system had sturdy momentum going into the fourth quarter, together with broad-based job positive aspects that returned the employment charge to round its pre-pandemic stage. Nevertheless, it raised considerations in regards to the potential impacts of the Omicron variant on future development and warned that latest flooding in Western Canada, which broken transportation infrastructure, might signify one other setback.