Canada Stays Pat On Rates

Published 01/25/2016, 10:36 AM
Updated 05/14/2017, 06:45 AM
CL
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  • The most important news in North America last week was the Bank of Canada’s decision to maintain its key interest rate at 0.50%, while revising its projected growth for 2016 from 2.0% to 1.4%, mainly due to slower growth in business investment
    • Crude oil touched a new historical low at USD 26.55/bbl, encouraging short sellers to take profits and putting upward pressure on the commodity’s price, which closed the week above USD 32.00/bbl
    • In Europe, ECB President Mario Draghi suggested that the institution will be reviewing its monetary policy in March, temporarily calming investors’ uncertainty and helping global stock markets to close the week on a positive note for the first time in 2016.

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