Bank of Canada Buys C$985 Million of Securities for One Day

The Bank of Canada bought C$985 million ($990 million) 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 the total purchase from an initial total of C$555 million. The transactions were announced on the bank’s website today.

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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