Carney leaves interest rate unchanged - MoneySense

Carney leaves interest rate unchanged

Bank of Canada Governor previews details from quarterly report due out Wednesday.

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Bank of Canada Governor Mark Carney revealed Tuesday his decision to maintain the benchmark interest rate at 1 per cent.

Explaining the decision to maintain the interest rate, Carney referenced the amount of slack in the economy and implied that the bank is getting ready to resume a tightening campaign some time in the future.

The Bank is expected to increase the rate to 2 per cent by mid-2012.

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