The Bank of Canada leaves benchmark interest rate at one per cent
Posted by news | Filed under All News Stories, Durham, GTA, Toronto
Interest rates at the Bank of Canada are being left alone once again. The central bank says the economy is doing slightly worse than it thought a few months back, and so it is keeping the benchmark rate at one per cent. The bank says the economy needs the stimulative effects of low borrowing costs to encourage borrowing and spending. Predictions for the Canadian economy have changed, as it is now expected to grow by 2.1 per cent this year and 2.3 per cent in 2013.
