Bank of Canada holds key lending rate at 1 per cent

Low interest rates will remain the norm for longer than anticipated, the Bank of Canada signalled Wednesday as it lowered growth expectations for 2013, citing global and domestic economic challenges.


Governor Mark Carney held the key overnight interest rate steady at 1 per cent on Wednesday, saying Canada's economy experienced more of a slowdown than expected in the second half of 2012, and going forward "economic activity is expected to be more restrained."

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