Bank of Canada holds steady on rates, 2013 economic prediction

Kevin Carmichael - Globe and Mail

The Bank of Canada is looking through weaker economic growth, opting to leave its benchmark interest rate unchanged, and holding to a prediction that Canada's economy should gather pace next year.

"In Canada, economic activity in the third quarter was weak, owing in part to transitory disruptions in the energy sector," the Bank of Canada said in a statement at the end of its latest round of policy deliberations Tuesday. "Although underlying momentum appears slightly softer than previously anticipated, the pace of economic growth is expected to pick up through 2013."

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