The Bank of Canada left its key interest rate unchanged at one per cent Tuesday and warned of a slowing economy, knocking the Canadian dollar and stock markets lower.
The central bank said it now expects the economy to take a year longer to return to full capacity than it had earlier predicted.
The decision to hold the overnight rate steady followed three consecutive quarter-percentage-point increases in the key rate, which influences the commercial banks' prime lending rate and other short-term interest rates. Observers said it appears the bank may now stand pat for some time.
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