The Bank of Canada maintains its overnight rate at 1%, jettisoning recent hawkish rhetoric to...

|By:, SA News Editor
The Bank of Canada maintains its overnight rate at 1%, jettisoning recent hawkish rhetoric to warn about "a sharp deterioration" in global financial conditions. "The outlook for growth has weakened  in recent weeks," leads the statement. The loonie gives up some its gains vs. the greenback, but its direction is more a function of what risk markets are doing rather than BoC policy.