Bank of Canada holds rate steady

The Bank of Canada released its quartery Monetary Policy Report on Wednesday, with Mark Carney at the helm for the second-last time before he moves on to the Bank of England.

The overnight rate was once again kept at a modest 1%, as was widely anticipated. The rate has remained unchanged as of September of 2010. Canada's central bank is maintaining that interest rates will eventually rise, but still stated that the current rate "will likely remain appropriate for a period of time".

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