Canadian Press NewsAlert: BoC lowers forecast for Q1 economic growth to 1.5%

OTTAWA – The Bank of Canada said Wednesday it is keeping trendsetting overnight interest rate at one per cent, where it has stood since September 2010. The bank also lowered its forecast for first quarter growth this year to 1.5 per cent, from 2.5 per cent, but attributed the downgrade mostly to temporary impacts of a unusually severe winter.

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