Bank of Canada keeps key interest rate at 1%

Jan. 18, 2011 - PRLog -- |www.preigCanada.com | www.WorldWealthBuilders.com |

OTTAWA - The Bank of Canada has left its trendsetting interest rate at one per cent, unchanged since it last raised rates in September.

The central bank says global conditions have improved slightly since its last full report in October, and so have Canada's economic prospects.

“We do not expect any major interest rate changes till spring.” says Navtaj Chandhoke, founder of Professional Real Estate Investors Group (PREIG) Canada and World Wealth Builders.

But it also says risks remain and the high dollar and low productivity will continue to weigh on Canadian exports and output growth.

Overall, the Bank projects the economy will expand by 2.4 per cent in 2011 and 2.8 per cent in 2012 – a slightly firmer profile than had been anticipated in the October MPR. With a little more excess supply in the near term, the Bank continues to expect that the economy will return to full capacity by the end of 2012.

It says the economy won't return to full capacity until the end of 2012. The next scheduled date for announcing the overnight rate target is 1 March 2011.

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Navtaj Chandhoke is a Canadian-based real estate investor, speaker, author, educator and the founder of World Wealth Builders, leading RE investors education,mentoring, support and network of over 4600+ Canadian investors.
| www.preigCanada.com | www.WorldWealthBuilders.com |