The Bank of Canada maintained its key lending rate at 1.00% as inflation remained low and the currency high. In respect of the currency the Bank noted "The persistent strength of the Canadian dollar could create even greater headwinds for the Canadian economy, putting additional downward pressure on inflation through weaker-than-expected net exports and larger declines in import prices,". The Bank expects the Canadian economy to grow by 2.9% in 2011 and 2.6% in 2012, and 2.1% in 2013.
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