Mark Carney boosts forecast, holds rate

Bank of Canada Governor Mark Carney held his benchmark interest rate at 1 per cent Tuesday, balancing a stronger-than-expected domestic recovery against ongoing global threats and the Canadian dollar’s dampening effect on exports and inflation.


In explaining the decision to leave borrowing costs alone for the fifth consecutive meeting, as expected, the central bank hinted that it is getting ready to resume a tightening campaign some time in the coming months, by softening a reference in its statement to the amount of slack in the economy and saying it would be chewed up more quickly than expected. 


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