Interest rates stay put

As expected, the Bank of Canada is keeping its key overnight interest rate at one per cent.

It’s because the world economy is slowing and Europe may actually fall back into a recession.

And, it says Canada’s economy will have a tougher time getting back to full speed and that may not happen until 2013.

The bank says the economy will grow by just over 2% this year; but adds, next year’s growth will be just under 2%.