1.19.2011

Bank of Canada to keep rates unchanged at 1.00%

Bank of Canada (Bank of Canada) on Tuesday (18) for the third consecutive time to maintain the benchmark overnight call rate unchanged at 1.00%, and slightly raised its growth forecasts, but said the net exports contribution to economic growth is likely to increase .

 However, the central bank said the strong Canadian dollar and low productivity resulting in a net upward trend in exports blocked, and promote current account deficit widened to 20-year high.