The central bank announced Wednesday it is keeping the overnight rate which impacts short-term interest rates at one per cent, where it's been for more than three years.
"Markets are liked to see the statement as an indication bank governor Stephen Poloz is likely to keep the trendsetting policy interest rate at one per cent well into 2015.The reason, the bank says in its latest monetary policy report, is that the economy is still not ready to transition from a reliance on domestic demand to export-driven growth capable of getting reluctant Canadian firms to start investing and hiring".
Read more: http://www.ctvnews.ca/business/bank-of-canada-lowers-economic-forecast-leaves-interest-rate-unchanged-1.1509477#ixzz2iYxfFkJs
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HomeLife Response Realty Inc. Brokerage