Bank of Canada Buys C$1.36 Billion of Securities for One Day

The Bank of Canada bought C$1.36 billion ($1.37 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 the total purchase from an initial C$755 million, in transactions announced on its website today. The purchases follow ones yesterday worth C$985 million.

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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