April 14, 2011 – On April 12, to no one’s surprise, the Bank of Canada (BOC) kept its key policy-setting interest rate – the overnight rate – steady at 1.00%. In the press release setting out the rate announcement there were few variations on the outlook as seen by the BOC versus earlier assessments.
The “real” (i.e., inflation-adjusted) GDP growth forecast by the BOC for this year is +2.9%. That will be followed by GDP change of +2.6% in 2012 and +2.1% in 2013. The latter figure is said to represent potential output after post-recession full-capacity is realized again in mid-2012. | READ MORE
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