The Bank of Canada is holding the key interest rate at 2.25 per cent for the sixth time in a row.

Governor Tiff Macklem says Canada’s GDP remains flat and global economic growth has been “dented” by the ongoing conflict in the Middle East.

Excluding gas prices, inflation remains at 2.2 per cent, just above the target rate.

Macklem says because of those factors, they decided to hold the interest rate for the time being.

“The current policy rate remains appropriate to sustain the economic recovery and bring inflation back to the 2 per cent target.”