Bank of Canada Governor Mark Carney delivered an assuring message to Canadians yesterday. In that message he stated that he expects the strength of Canadian financial structures to carry it through the growing international crisis.
He also stated that even if other country's fell back in to a recession Canada's economy would remain in tact. This is due to the fundamental strength of Canada's banking system, which was named the best banking system in the world for the 4th consecutive year.
That being said, expect the Bank of Canada to hold interest rates until they can see some stability in the work economy.
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