News Summary: Canada interest rate unchanged

AP News
Posted: Jun 05, 2012 11:19 AM
News Summary: Canada interest rate unchanged

HOLDING STEADY: Canada's central bank left its key interest rate unchanged at 1 percent but warned rates might start rising soon.

HIKES AHEAD? The Bank of Canada sent a strong signal of looming rate hikes in mid-April, a sharp contrast to the U.S. Federal Reserve which has said it plans to keep short-term interest rates at record lows until at least late 2014.

BETTER OFF: Canada's commodity-rich economy has fared better than other industrialized nations. It had no mortgage meltdown or subprime lending crisis, and its banks are rated among the soundest in the world.