Canada: BoC keeps policy unchanged, rate at 1% in April

FXstreet.com (Barcelona) - The Bank of Canada decided to keep its overnight rate at 1% in April, the Bank rate at 1.25% and the deposit rate at 0.75%. In the last meeting of Governor Carney before leaving the BoC for the BoE, the Council expects global economic activity to grow modestly in 2013 before strengthening over the following two years: “On a quarterly basis, growth in Canada is expected to pick up to about 2.5 per cent in the second half of this year. Despite this expected pickup, with the weak growth in the second half of 2012, annual average growth is now projected to be 1.5 per cent in 2013. The economy is then projected to grow by 2.8 per cent in 2014 and 2.7 per cent in 2015, reaching full capacity in mid-2015 – later than anticipated in the January MPR”, said the statement.