Posted by: youngragingbull | April 17, 2013

Bank of Canada holds key rate, sees slow growth

The Bank of Canada on Wednesday maintained its target for the overnight rate at 1%, as expected.

In a statement, the central bank said that Canada’s annual average growth is now projected to be 1.5% in 2013, lower than its previous forecast of 2% growth.

The Bank of Canada said that “the considerable monetary policy stimulus currently in place will likely remain appropriate for a period of time, after which some modest withdrawal will likely be required, consistent with achieving the 2% inflation target.”

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