BoC keeps base rate at 4.50pc
Friday, 7 September 2007
OTTAWA, Sept 6 (AFP): The Bank of Canada (BoC) held its key lending rate at 4.50 per cent yesterday, noting economic growth outside North America seemed "slightly stronger than anticipated," despite a US housing crunch.
"Near-term economic prospects for the United States are weaker than expected," the central bank said in a statement of Canada's biggest trading partner.
"It now seems likely that the adjustment in the US residential housing sector will be more pronounced and protracted, exacerbated by recent developments in financial markets," it added.
"Near-term economic prospects for the United States are weaker than expected," the central bank said in a statement of Canada's biggest trading partner.
"It now seems likely that the adjustment in the US residential housing sector will be more pronounced and protracted, exacerbated by recent developments in financial markets," it added.