Interest rates remain unchanged

The Bank of Canada has decided to leave it’s central bank rate at one percent.

Bank governor Mark Carney has warned that with Canada’s improving economy, the bank will eventually have to increase borrowing costs to prevent inflation.
For now, the rate will hold at one per cent, mostly
because the U-S economy is growing slower than expected.
The bank’s rate affects the prime lending rate
at Canada’s big banks, and in turn the rates for variable rate
mortgages and lines of credit.
The central bank last raised rates in September 2010.