Canada's central rate remains at 1 percent OTTAWA, March 8 (UPI) -- The Bank of Canada held the country's key lending rate at 1 percent Thursday, the 12th consecutive time over a 2-year span. In its statement from Ottawa, the bank said since its last report in January it perceived "the heightened uncertainty around the global economic outlook has decreased," and that "the outlook for the Canadian economy is marginally improved." The bank expressed concern that Canadian household spending and increasing debt were a possible impediment to domestic economic growth. It also said the persistent strength of the Canadian dollar was impacting exports As for the country's largest trading partner, the bank said U.S. economic expansion "is proceeding at a modest pace, reinforced by recent improvements in the labor market." The bank concluded its report on an optimistic note. "With the ... interest rate near historic lows and the financial system functioning well, there is considerable monetary policy stimulus in Canada," the release said.