File photo: Agencies

The Bank of Canada announced  Wednesday it is leaving its benchmark interest rate unchanged at 0.25 percent, saying the national and global economic outlook is uncertain because of the pandemic.

The bank also presented what it called a central scenario for global and Canadian growth, rather than economic projections as it usually does each month.

Under this scenario, Canadian GDP will decline by 7.8 percent in 2020 and resume with growth of 5.1 percent in 2021 and 3.7 percent in 2022.

The scenario also foresees the world economy contracting by five percent this year, then growing by an average of nearly five percent in 2021 and 2022.