The Bank of Canada today (July 17) maintained its benchmark overnight rate at 1%, highlighting external threats to the economy but said these were offset by domestic factors supporting moderate growth.
The central bank said global growth prospects had weakened since the monetary policy report in April, saying that "developments in Europe point to a renewed contraction". China and other emerging economies represented a further cause for concern. "The deceleration in growth has been greater than a
- Irish deputy governor warns hard Brexit is ‘entirely plausible’
- New Russian banknote provokes anger in Ukraine
- Low-paid jobs may explain flat Phillips curve – research
- Canada’s Project Jasper to explore clearing of securities in third phase
- G7 governors and ministers set out principles for assessing cyber security