According to "Toronto Star" this Wednesday, September 7, 2016, The Bank of Canada held its key interest rate target steady at 0.5 per cent but raised concerns after the export sector disappointed earlier this year.
“While the strength in exports during July was encouraging, the ground lost over previous months raises the possibility that the profile for economic activity will be somewhat lower than anticipated,” the central bank said in its rate announcement.
The Canadian economy contracted at an annual pace of 1.6 per cent in the second quarter, worse than the 1.0 per cent pace that had been forecast by the Bank of Canada in its July monetary policy report.
Full Article: https://www.thestar.com/business/2016/09/07/bank-of-canada-keeps-interest-rate-unchanged-at-05-.html
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