FXStreet (Mumbai) - The latest Fitch report on North America reveals that the rating agency sees the region’s Sovereign outlook stable as growth and the government debt ratios steady. Fitch also expects economic growth in North America to improve in 2016. “The U.S. economy will grow 2.5%, the same rate as in 2015, while Canadian growth will improve to 2% in 2016 from just 1% in 2015.” On the Fed’s and BOC’s interest rates outlook, Fitch notes that, “the U.S. Federal Reserve to begin raising interest rates in December 2015 and proceed at a gradual pace, without leading to a sharp slowdown in credit growth or economic activity. By contrast, the Bank of Canada is likely to keep its policy rates on hold at 0.5% or even cut, as the economy adjusts to the energy price shock.” United States and Canada are both rated 'AAA' by Fitch ratings agency. For more information, read our latest forex news.