The central bank also held its trendsetting interest rate at 0.5 per cent, which was widely expected and where it has been since July 2015. OTTAWA—The Bank of Canada has downgraded the country’s growth outlook yet again as it released fresh projections Wednesday that pointed to dampened expectations for exports and real estate activity. For next year, the bank is forecasting growth of two per cent, down from its previous call of 2.2 per cent. “The outlook for exports remains subject to considerable uncertainty, which has significant implications for the economic projection,” the Bank of Canada said in the monetary policy report. The bank predicts third-quarter growth of 3.2 per cent, down from the July forecast of 3.5 per cent, and fourth-quarter growth of just 1.5 per cent, down from 2.8 per cent.

Source: thestar October 19, 2016 12:25 UTC