Posted AT 2:05 PM EDT on 05/12/06
Bank of Canada leaves interest rates alone
The Bank of Canada left its key interest rate unchanged at 4.25 per cent, as expected, and said rates are at the right level to achieve the bank's inflation targets over the “medium term.”
The central bank's overnight lending rate has been steady since May, though many economists are expecting a rate cut next year. In Tuesday's statement, the bank gave little indication that it plans to lower interest rates in the coming months.
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