By Reuters Staff1 minute readFILE PHOTO: A sign is seen outside the Bank of Canada headquarters on May 23, 2017 in Ottawa, Ontario, Canada. REUTERS/Chris Wattie/File PhotoOTTAWA (Reuters) – The Bank of Canada kept its key overnight interest rate at a record low 0.25 percent on Wednesday, as expected, and said it would reduce its weekly net purchases of government of Canada bonds to a target of C$2 billion ($1.6 billion) from C$3 billion. This is scheduled to happen in the second half of 2022. ($1 = 1.2458 Canadian dollars) Julie Gordon in Ottawa contributed to this report./n
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