10/23/2012 10:23 EDT | Updated 12/23/2012 05:12 EST

Bank of Canada keeps interest rate steady again

The Bank of Canada said today it is keeping its interest rate at one per cent — the same level since September 2010 — and has slightly increased its growth forecast to 2.2 per cent from 2.1 per cent.

The central bank's governor, Mark Carney, indicated last week that it would be keeping the rate low for some time to encourage business investment.

Carney said economic growth hasn't been as strong as previously projected.

More to come