Canadian Central Bank to Keep Rates Low Wednesday, June 20, 4:30 PM ET
The Canadian Central Bank announced that it expects historically low interest rates to continue through 2014 due to increasing risks to the economy, as well as weakening economic conditions. The bank expects a growth rate of 2.1 percent in 2012, after growth of 2.4 percent in 2011 and over 3 percent in 2010. Global growth is also expected to slow to around three percent this year, and coupled with stagnant U.S. growth through 2014, will make it very difficult for the bank to increase rates.
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