Rate remains at 1.00%, where it has been since Sept. 2010
Full statement here
USD/CAD drops to 0.9925 from 0.9955
- “Heightened uncertainty around the global economic outlook has decreased”
- “Recent developments suggest that the outlook for the Canadian economy is marginally improved from the January MPR”
- Q1 growth likely faster than forecast due to temporary factors
- Underlying growth around trend
- Private demand now expected to slightly stronger
- Stronger-than-expected US activity
- Notes persistent strength of the Canadian dollar
- Profile for inflation is “somewhat firmer than previously anticipated”
- Will continue to monitor carefully economic and financial developments in the Canadian and global economies
