Synergy Debt Group

Winnipeg Free Press - PRINT EDITION

Top bank keeps key interest rate steady, citing world woes

By: Staff Writer

OTTAWA -- The Bank of Canada kept its key interest rate on hold Tuesday, warning that the worldwide economy has "deteriorated" and will begin to slow the rate of growth in this country despite a surprisingly strong spurt experienced late last year.
While the Canadian economy "had more momentum than anticipated in the second half of 2011, the pace of growth going forward is expected to be more modest than previously envisaged, largely due to the external environment," Canada's central bank said in a report.
The bank's overnight lending rate has remained at a near-record low of one per cent since September 2010.
-- Postmedia News

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About Synergy Debt Group
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