Rate pledge already benefiting us: Canada's Carney

Mark Carney, the governor of the Bank of Canada, has said that the central bank's unprecedented promise to hold rates at record lows until at least June 2010 was already having a positive effect on credit conditions in Canada.

The central bank last week cut its benchmark interest rate to 0.25% and pledged to keep it there until mid 2010. "The impact of our decision last week was to improve financial conditions," Carney told a parliamentary finance committee on Tuesday, and this had occurred. T

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