BoC on hold in December (Barcelona) - As widely expected, the Bank of Canada decided to maintain its target for the overnight rate at 1% today. In a statement released after the announcement, BoC governor Mark Carney said that he sees Canadian economic growth stepping up in 2013, as problems with temporary disruptions in the energy sector and anemic global demand recede.

“The expansion is expected to be driven mainly by growth in consumption and business investment, reflecting very stimulative domestic financial conditions," the governor assured.