Could U.S. uncertainty mean low rates for years or even decades to come?

With the U.S. government deadlock heading toward a more damaging crisis and global economic growth falling far short of expectations, a hike in interest rates has been put on hold.

Most analysts see the bank keeping its policy rate at one per cent - where it's been for three years - until sometime late in 2014 or early 2015, but few believe it will stay at such stimulative level for another two or three years.

Low interest rates are generally seen as likely to boost economic performance because firms and individuals can more cheaply finance their investments and spending.

The Bank of Canada also warned that keeping rates low for too long a period is problematic for savers and pension funds, and encourages households to spend beyond their means.