This was expected by the market given the side-ways global growth we are currently experiencing. This decision places further pressure on the Canadian dollar, we are sitting somewhere north of $.96/to a US greenback.
On the Canadian front…Canada’s economy grew by 0.6 per cent at annual rates in the fourth quarter of 2012, with solid growth across most domestic components of GDP offset by a sharp reduction in the pace of inventory investment. The Bank expects growth in Canada to pick up through 2013, supported by modest growth in household spending combined with a recovery in exports and solid business investment.
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