World Business Briefing: Canada: Interest Rate Is Held Steady
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The Bank of Canada left interest rates unchanged, saying the economy remained on track despite slower growth and the increased risk posed by a downturn in the United States housing market. The central bank left its key overnight rate at 4.25 percent for the second consecutive time after raising rates seven times between September 2005 and May of this year. Markets had widely expected the bank to hold rates steady. In a statement, the bank was not as dovish as had been expected, leaving analysts less sure about its next moves.
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Signs that secured borrowing remains robust and firm data on manufacturing and retail sales, released on Thursday, painted the picture of an economy that has yet to be cooled by the recent spate of interest rate rises.
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The Bank of England left its key interest rate unchanged at 4.75 percent Thursday.
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Wall Street held on to its gains after the Federal Reserve kept short-term interest rates steady.
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UK interest rates have been kept on hold at 4.75% following the latest meeting of the Bank of England&#39;s rate-setting committee.
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The U.S. Federal Reserve on Tuesday  held benchmark interest rates steady at 5.25 percent for a  fourth straight meeting, while renewing a warning that risks  from inflation remain.
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The Bank of Canada raised its overnight  interest rate a quarter percentage point on Tuesday to 2.50  percent as expected, and made clear it would keep raising rates  even as it lowered its forecast for Canadian growth.
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FRANKFURT, Germany -- The European Central Bank held its key interest rate steady at 4 percent while the Bank of England cut its benchmark rate by a quarter percentage point to 5.25 percent on Thursday.
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The Bank of Canada raised its overnight interest rate a quarter percentage point on Tuesday to 2.50 percent as expected, and made clear it would keep raising rates even as it lowered its forecast for Canadian growth.
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A rebound of core producer prices in June despite a temporary reduction of energy costs according to a Labor Department report on Tuesday reinforced investors expectations for the Federal Reserve to hold interest rates unchanged to guard against inflation.
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The Bank of England appears set to hold interest rates steady for at least the next few months after revealing policymakers did not even discuss raising borrowing costs at their November meeting.
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Japan's central bank kept its loose monetary policy unchanged Friday amid signs that keeping ample cash flowing in the financial system is necessary to keep the nation's economic recovery going.
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OTTAWA - Despite gains of about 34,000 jobs last month, the unemployment rate remained steady in October at 7.1 per cent, Statistics Canada said Friday.
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OTTAWA (CP) - The Bank of Canada raised its key policy interest rate by a quarter of a percentage point to 2.50 per cent Tuesday as it tries to encourage growth while controlling inflation.
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The Federal Reserve held interest rates steady yesterday, extending a yearlong breather for borrowers. Although policy makers observed improvements on inflation, they made clear they were not ready to declare victory on that front.
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Federal Reserve Chairman Ben S. Bernanke indicated today that the central bank is likely to hold interest rates steady for a while but remains ready to hike borrowing costs if necessary to force inflation lower.
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The European Central Bank held its key interest rates steady on Thursday, amid signs it is becoming increasingly concerned about the negative effects on economic recovery of the runaway price of oil.