Bank Of Canada Announcement, An Indication Of Global Recovery

The Bank of Canada has today maintained that it will keep its overnight lending rate target at 0.25%, amid indications of economic recovery all over the globe from a deep recession. This lending rate can be expected to continue into the better half of 2011 if this factors continue to improve or even stabilize.

The performance of the major indexes, especially the declining dollar values has been more favorable to Canada than previously estimated. Lately, Canada has seen increased household wealth, improved financial conditions and maintained higher commodity prices. Analysts are now projecting a higher growth in this second half of the year.