Canada's Central Bank holds key interest rate steady at 1 %

Canada's central bank has again held its key interest rate at 1 %, the same level it has been at for the last four years. The rate has been at this level since September 2010, the longest pause in Canadaian history . In its latest policy decision the Bank Of Canada also maintained its "neutral" stance, which means that govenor Stephen Poloz has no plans to either raise or lower rates anytime soon.

Bank of Montreal chief economist Doug Porter noted that the bank seems to be more positive than it has been this year. The consensus is that the central bank will begin to raise its key rate next year in lockstep with the U.S. Federal Reserve, and that event looks to be a mid 2015 time frame when the Fed begins to finally move rates off the floor.





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