Canada holds interest rate
by Associated Press
Published: January 19,2010
Tags: banking and finance
TORONTO, Canada — Canada’s central bank is holding its key interest rate at a record low 0.25 percent and is reiterating its expectation that it will keep the rate there until the middle of this year.
The Bank of Canada said today that while a global economic recovery is under way it continues to depend on exceptional monetary and fiscal stimulus, as well as extraordinary measures taken to support financial systems.
The rate decision was expected.
The bank also says the persistent strength of the Canadian dollar and low U.S. demand for Canadian exports continue to act as significant drags on economic activity in Canada.
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