Bank of Canada holds interest rate at 0.5%

(Oct. 29, 2016) -- In 2016, the bank now looks for Q3 growth of 3.2 percent (previously 3.5 percent) with Q4’s growth rate cut to 1.5 percent from 2.8 percent. The bank now looks for the economy to grow by 2.0 percent in 2017 rather than 2.2 percent, said Desjardins.