Interest Rates: Bank of Canada

Bank of Canada: A subdued global economy means the bank will need to revise downward its forecast for economic growth for this year and likely next year, from the current expectation of 1.8 and 2.7 per cent respectively, say analysts, according to Times Colonist. Under these conditions, Bank of Canada governor Stephen Poloz will look to keep the trendsetting overnight rate, which determines short-term interest rates, at one per cent - where it has stayed for the past three years and OTTAWA - With interest rates apparently set in concrete, the Bank of Canada is expected to provide a cautious offering when it issues a new outlook Wednesday morning. And the bank may also need to set back the timetable for when it expects the economy to return to full production capacity beyond the end of 2015. (www.immigrantscanada.com). As reported in the news.