Bank of Canada Says Rate Appropriate for a Period of Time

Bank of Canada Governor Mark Carney said his policy interest rate is likely to be unchanged for some time after inflation slowed more than projected, while reiterating his eventual next move will probably be an increase.

Policy makers kept the benchmark rate on overnight loans between commercial banks at 1 percent and softened language about tighter policy for the second meeting in a row, saying inflation will “remain low in the near term” in an economy with “material excess capacity.”