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Bank of Canada Holds Interest Rates

BofC Canada’s key interest rate remains unchanged after today’s Bank of Canada (BoC) meeting.  As a result, variable mortgage rates will likely hold steady for at least six more weeks.

The BoC was conflicted, though, saying that Canada’s economy has been strong but that it may be threatened by a weakening U.S. outlook. 

They gave no hint of their interest rate bias for the next meeting on October 16.  However, several economists now feel the Bank’s indecision may help keep rates the same through the end of 2007.