Tuesday, December 05, 2006

Forex News: Bank of Canada leaves rates unchanged at 4.25%

Forex News

The Bank of Canada on Tuesday left its benchmark overnight rate unchanged at 4.25%, as widely expected, and said that inflation has evolved “broadly in line” with the Bank's expectations.

The Bank reiterated that “the current level of the target for the overnight rate is judged at this time to be consistent with achieving the inflation target over the medium term”.

Bank of Canada's commentary suggests that "the main top-down risk at the present time is slowed economic growth of U.S. economy".


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