BOC holds its interest rate in Sep
07 September 2011
The Bank of Canada said it saw less need to raise interest rates, becoming the latest major central bank to take a more cautious stance about the global economy. The bank held its overnight rate unchanged at 1 percent and took its previous talk of a rate hike off the table."In light of slowing global economic momentum and heightened financial uncertainty, the need to withdraw monetary policy stimulus has diminished," the central bank said in a statement.