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The Bank of Canada makes an announcement on its trend-setting interest rate Wednesday morning at 10 a.m.

According to Bloomberg, 19 out of 22 economists and analysts predict the Bank of Canada will keep its policy interest rate at 0.5 per cent.

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“Macroeconomic data may have improved and headline inflation is on the rise, but these necessary but not sufficient conditions for a more hawkish bias shift at the Bank of Canada will instead probably encounter a patient stance,” said Derek Holt, vice president and head of capital markets economics with Scotiabank, in a note on Tuesday.

Also Wednesday, the bank will release its latest Monetary Policy Report, and Bank of Canada Governor Stephen Poloz and Deputy Governor Carolyn Wilkins will take questions from reporters at 11:15 a.m. Eastern time.

Benjamin Reitzes, senior economist with BMO Capital Markets, does not expect the monetary policy report to contain any meaningful revisions to growth.