reportonbusiness.com: notSet

Posted AT 9:01 PM EST on 03/09/08

Central bank warns U.S. turmoil a risk

HEATHER SCOFFIELD

From Thursday's Globe and Mail

OTTAWA — The Bank of Canada held its key interest rate steady, saying rates are already low enough to stimulate a stagnant economy that remains vulnerable to economic and financial turmoil in the United States. The central bank's decision Wednesday to keep its overnight rate at 3 per cent maintains its benchmark rate a full percentage point higher than the U.S. Federal Reserve Board's key rate.

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