Carney leaves interest rate unchanged - MoneySense

Carney leaves interest rate unchanged

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


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.