Chetwynd The Echo in Chetwynd, British Columbia

Bank rate steady as Canada holds at 9.51 percent

The Bank of Canada kept the bank rate virtually unchanged at 9.51 percent, rising slightly from 9.47. Economists say lending rates are unlikely to move up despite recent mortgage rate hikes, with policy tied to maintaining the dollar's exchange rate with the U S. The decision signals willingness by U S. monetary authorities to risk modest inflation.