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September 2015

Bank of Canada interest rate announcement

Published: Wednesday 09 September 2015

The Bank of Canada left interest rates on hold today as widely anticipated but were slightly more upbeat on the outlook for the economy. Whilst the resource sector continues to adjust to lower prices (although oil has rallied over 20% from the lows) this is likely to take some time, but economic activity in the rest of the economy is underpinned by solid household spending and the strength of the US economy. We still remain within the long term uptrend, but appear to be consolidating prior to pushing higher once more.