BANK OF CANADA STICKS TO RATE HIKE MESSAGE

The central bank held its key overnight rate to one percent, however, it doggedly stuck to its message that it may have to raise interest rates despite a global slowdown, predicting the domestic economy would gain momentum this year and next and inflation return within a year. In 2010 it became the first Group of Seven country to lift rates from emergency lows following the recession. As the U.S. Federal Reserve and other global central banks contemplate further rounds of easing, Canada repeated what it has been saying for months - that the time for removing stimulus could be near. Still analysts believe the bank will put off raising rates until the second quarter of 2013.

Tricia Greer

Tricia Greer

REALTORĀ®
CENTURY 21 Millennium Inc., Brokerage*
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