Bank of Canada Holds Overnight Rate

The Bank of Canada holds the overnight rate at 0.5%, adding that inflation is evolving as anticipated bt a weak economy will continue to dampen growth in consumer prices. Weak economic growth is due to the low price of oil and the economy is expected to remain weak thru 2016. The low Canadian dollar is making imports of goods, including machinery, fruit and vegetables more expensive. 

March 9, 2016

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