Poloz keeps interest rates steady

The Bank of Canada opted to keep its benchmark interest rate steady at one per cent on Wednesday, the same level it's been at for almost three years.

"Growth is expected to be choppy in the near term, owing to unusual temporary factors," the bank said in a statement, "although the overall outlook is little changed from the bank's projection in … April."

The July 17 rate announcement was the first policy decision announced since Stephen Poloz, MA'79, PhD'82 (Economics), replaced Mark Carney as bank governor at the start of June.

Read complete story at CBC News.