Bank keeps interest rates low, citing gloomy global outlook

thestar.com – Business
7 September, 2011 9:38 AM
by Julian Beltrame

Bank keeps interest rates low, citing gloomy global outlook

The Bank of Canada announced Sept. 7 that it was keeping its key overnight borrowing rate at one per cent, citing a deteriorating global economic outlook.

The Bank of Canada is keeping short-term interest rates unchanged, signalling to markets it will maintain borrowing costs at historic low levels for the near future in light of the worsening global and domestic economies.

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