The Bank of Canada was right to hold rates steady

Open this photo in gallery: Bank of Canada Governor Tiff Macklem takes part in a news conference after announcing an interest rate decision in Ottawa, Ontario, Canada March 6, 2024. REUTERS/Blair GableBlair Gable/Reuters Jeremy Kronick is vice-president and director of the Centre on Financial and Monetary Policy at the C.D. Howe Institute, where Steve Ambler, a professor of economics at Université du Québec à  Montréal, is the David Dodge Chair in Monetary Policy. After seven straight cuts, the Bank of Canada hit the pause button on Wednesday and held its policy interest rate at 2.75 per cent. We have argued…