OTTAWA, Feb 8 (Reuters) - The Bank of Canada upheld its commitment on Monday to keep its benchmark interest rate unchanged at a record low 0.25 percent until the end of June, conditional on inflation staying on track.
'On 19 January, the Bank reaffirmed its conditional commitment to hold its policy rate at 1/4 per cent until mid- 2010 in order to achieve its inflation target,' Deputy Governor Pierre Duguay said, according to a slide presentation he was giving in Levis, Quebec, and posted on the central bank's website.
Duguay maintained the bank's inflation and growth outlook and repeated that the strong Canadian dollar and weak U.S. demand would continue to act as 'significant drags on economic activity.'
(Reporting by Louise Egan; editing by Rob Wilson) Keywords: CANADA ECONOMY/DUGUAY
(louise.egan@thomsonreuters.com; +1 613 235-6745; Reuters Messaging: louise.egan.reuters.com@reuters.net)
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