Bank of Canada maintains Overnight rate at 1%

2011-07-14 | 06:51:17

In Canada, the economic expansion is proceeding largely as expected in the April MPR. The economy grew at an annual rate of 3.9 per cent in the first quarter, reflecting continued strong business investment, smaller contributions from household and government spending, and a modest drag from net exports. Although temporary supply chain disruptions are expected to restrain growth sharply in the current quarter, this is expected to be unwound in subsequent quarters. Full details here

The next Bank of Canada meeting is July 19, 2011. Stay tuned…