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Bank of Canada Governor, Mark Carney, confirms that "Canadian growth over the second half will be slower than first thought". However, growth is still in our country's near future, just not at the pace we initially expected.

Carney cites the continuing problems in Europe and the United States as "delicate issues" that will likely face reduced growth through 2013.

The sum of everything will mean that rates will continue to remain low for an extended period of time.

Carney concludes by cautioning consumers not to go overboard, just because rates are low. He warns people not to "get in over their heads with debt loads they may not be able to afford when rates inevitably rise."

Read the full article here.

 


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