Central bank to hold interest rate steady? PM testifies at inquiry

Here is a roundup of stories from The Canadian Press designed to bring you up to speed on what you need to know today...BoC expected to hold policy rate at 5% today

The Bank of Canada is set to announce its interest rate decision this morning.

It's widely expected to maintain its key interest rate at five per cent, but economists will be watching for any hints about the timing of upcoming rate cuts.

Forecasters expect the central bank to begin lowering its key rate in June as the economy continues to slow and inflation trends lower.

High interest rates have slowed demand in the economy as consumers pull back on spending and businesses hold off on investment plans, helping lower inflation.

Canada's inflation rate was 2.8 per cent in February.

PM to testify at foreign interference inquiry

Prime Minister Justin Trudeau is expected to testify today at an inquiry into foreign meddling in Canada's last two elections.

The inquiry has already heard that China and other state actors attempted to interfere, but there has been little evidence so far to indicate whether they were successful.

Trudeau has maintained over the last year that foreign interference had no meaningful impact on Canada's free and fair elections, which echoes what senior government officials have told Parliament.

Several members of Trudeau's cabinet are also slated to testify, including government House leader Karina Gould, who is currently on maternity leave.

As the former minister of democratic institutions, she was tasked with curbing foreign meddling in Canada's elections.