Canada holds, says policy appropriately loose

The Bank of Canada on Wednesday kept its key rate at 3% for the second straight vote, deeming rates "appropriately accommodative" given the risks to growth.

The central bank said the benchmark overnight rate was "appropriately accommodative". In the statement following the last rate-setting meeting in July, the institution described the rate as "appropriate".

Since July, an increased risk of "a more pronounced interplay between weakness in the US economy and tightness in credit conditions" ha