Bank of Canada Buys C$1.48 Billion of Securities for One Day

The Bank of Canada bought C$1.48 billion ($1.42 billion) of securities for one day, aiming to keep overnight lending rates close to its current target of 1 percent.

The Ottawa-based central bank increased today’s purchase from an earlier C$705 million, it said on its website.

To contact the reporter on this story: Greg Quinn in Ottawa at gquinn1@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net

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