Bank of Canada holds interest rate steady, hints low rates could stick around
?In January, the bank was expecting Canada's economy to grow by 1.7 per cent this year. On Wednesday, it downgraded that lukewarm forecast to a chillier 1.2 per cent.
Bank of Canada governor Stephen Poloz did add, however, that the bank expects the latter half of the year to be better than the first.
"Right now, we believe that this setting of interest rates will give us the outlook that ... growth picks up in the second quarter, and picks up for real in the third quarter for the second half of the year," he said.