Bank of Canada holds interest rate

June 5, 2012 | Market Update | By Aaron Rossetti

The Bank of Canada held interest rates at 1 per cent today, the same level it has been at since September 2010. The rate hold came with a warning that "the outlook for global economic growth has weekened in recent weeks." In a statement, the bank further explained "some of the risks around the European crisis are materializing and risks remain skewed to the downside. This is leading to a sharp deterioration in global financial conditions."

Click the source link for more information on the Bank of Canada's announcement.

Source: Vancouver Sun