The Bank of Canada announced that it would maintain its overnight rate of 1 percent this morning, thanks to disproportionate growth in the Canadian economy. According to the official release from the Bank, economic growth in Canada was slightly slower than expected in the first quarter of 2012. Even so, the underlying economic momentum appears largely consistent with projected expectations. … Read More
Bank of Canada Maintains Overnight Rate
The Bank of Canada left its main interest rate untouched yesterday, maintaining a 1 percent overnight rate for the 13th consecutive review. While Governor Mark Carney painted a bright economic picture, rumblings of increased interest rates are becoming more and more prevalent. Overall, the economic momentum in Canada is slightly firmer than the Bank expected back at the beginning of … Read More