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Bank of Canada holds interest rates steady

Growth outlook cut, stimulus wind-down postponed


 

The Bank of Canada held its target overnight interest rate steady at 1.0 per cent on Tuesday, hinting it won’t tighten monetary policy for an extended period. The bank cited concerns about slowing global growth in a statement, noting that Canada’s export-driven economy is vulnerable to Europe’s debt woes, as well as weak demand from the U.S. and emerging markets. The Canadian dollar fell steeply on the news from above-par levels with the U.S. dollar before the bank’s announcement.

CBC


 
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Bank of Canada holds interest rates steady

  1. And yet with the other side of his mouth, Mr. Carney is producing dire warnings about what happens if the hoi-polloi actually take advantage of these low interest rates..

    Clearly, we the people aren’t getting the message. These low rates are there so that the bankers and high-end capitalists can borrow money to buy government debt at a much higher rate and so convert our tax dollars to their private profits.  But obviously if everybody tries to get in on the deal it’s not going to work.  Geeze, people.

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