![Bank of Canada Holds Rates Steady Acknowledging Economic Slowdown Bank of Canada Holds Rates Steady Acknowledging Economic Slowdown](https://s.realtyninja.com/static/media/med/7650_107da33f_unnamed_1.jpg?width=400&dpr=2)
With last Friday's publication of the anemic second-quarter GDP data, it was obvious that the Bank of Canada would refrain from raising rates at today's meeting. Economic activity declined by 0.2% in Q2; the first quarter growth estimate decreased from 3.1% to 2.6%.
Today's press release announced, "The Canadian economy has entered a period of weak...