Interest rates not expected to change
Posted Dec 6, 2011 02:51:49 AM.
This article is more than 5 years old.
The Bank of Canada is widely expected to hold the line on interest rates Tuesday.
The bank’s key overnight rate has been one per cent since September of last year and no one seems to expect it’ll change anytime soon.
Analysts suggest that amid volatile stocks, a slumping economy and fears about European debt, the central bank is bound to be cautious.
Economists are divided about the longer run.
Six members of the CD Howe Institute’s Monetary Policy Council are urging the bank to keep the rate on hold for at least another year.
Three members call for a higher rate and two urge a lower one by this time next year.
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