Tuesday, October 17, 2006

Canada Keeps Rate at 4.25%

The Bank of Canada kept its benchmark interest rate unchanged for a 3rd meeting, cutting its growth forecast while saying the risks of high consumer spending and falling exports are "roughly balanced".
The target rate for overnight loans between banks remains 4.25 %, the highest since August 2001 and 1 % point less than the Federal Reserve's target.

There isn't any indication that they're getting ready to lower interest rates.


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