“The Bank of Canada has held its key interest rate at one per cent and cut its outlook for economic growth from now until 2015, posted online by the CBC News late last night. In its monetary policy report released today by Governor Stephen Poloz, the central bank has cut its outlook for economic growth to 1.6 per cent this year, 2.3 per cent in 2014 and 2.6 per cent in 2015, a sizable downgrade from its July outlook. The bank says it sees the economy returning to full capacity by the end of 2015. The statement also removes the bank’s warning that a rate hike is inevitable, a ‘major turn in guidance,’ according to Andrew Pyle, senior wealth adviser and portfolio manager at Scotia McLeod.” Read the full article here. | Raymond Matt, CFP, CLU, TEP, CHS
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