By Emma Crawford Hampel
Canada’s central bank is keeping the overnight rate at 0.5 per cent, where it has been since July 2015, but has downgraded the country’s economic outlook through the end of 2017.
The Bank of Canada said it expects GDP to grow 1.1 per cent in 2016 overall, down from its call of 1.3 per cent in the July rate decision. Growth forecasts for the last half of 2016 alone were cut from 2.8 per cent to 1.5 per cent. In 2017, growth has been downgraded to 2.0 per…
Source : South China Morning Post
Read more…Bank of Canada maintains overnight rate but downgrades outlook
