Economics
Bank of Canada Maintains Overnight Rate Target at 1% (Text)
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Following is the text accompanying the Bank of Canada’s decision to leave its benchmark overnight rate target at 1 percent. The statement was released today in Ottawa.
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.