Bank of Canada Overnight Rate Holds at 1%

Although the economy is recovering a little faster than expected, according to Bank of Canada’s Mark Carney, there is little danger of rampant inflation on the horizon. The Bank of Canada, therefore, has left its trend-setting interest rate unscathed at 1 per cent.

The decision not to raise the bank’s overnight rate showed concern that higher interest rates might push Canada’s currency value even higher, making Canadian exports less competitive.

Read the full article from The Toronto Star, by click  here.


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This entry was posted by Marg on Tuesday, March 1st, 2011 at 12:27 pm and is filed under Money Matters. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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