Bank of Canada keeps interest rates unchanged

The Bank of Canada said that the end of 2012 showed a slow down in the economy and growth is projected at 2% for 2013.  Uncertainty in global markets, how the US would deal with their short term financial crisis, a softening in energy prices and pipeline issues were factors.  The housing market has cooled and consumer spending is stabilizing but the economy can't rely on housing and consumer spending to fuel the economy. BMO economist Doug Porter doesn't foresee a change in interest rates in 2013 and the Bank of Canada doesn't see the economy operating at capacity until 2014. 

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