Bank of Canada Should Maintain Overnight Rate at 1.25 Percent through April: C.D. Howe Institute Monetary Policy Council
TORONTO, March 1, 2018 /CNW/ - The C.D. Howe Institute's Monetary Policy Council (MPC) called for the Bank of Canada to maintain its target for the overnight rate, the very short-term interest rate it targets for monetary policy purposes, at 1.25 percent at its next announcement on March 7, 2018 and at the following announcement in April. Looking further ahead, the Council called for a target of 1.50 percent by September, and 1.75 percent by March of 2019.
The MPC provides an independent assessment of the monetary stance consistent with the Bank of Canada's 2 percent inflation target. William Robson, the Institute's President and CEO, chairs the Council. Council members make recommendations for the Bank of Canada's upcoming interest-rate announcement, the subsequent announcement, and the announcements six months and one year ahead. The Council's formal recommendation for each announcement is the median vote of the members attending the meeting.
To read the announcement, go to: https://www.cdhowe.org/council-reports/bank-canada-should-maintain-overnight-rate-125-percent-through-april-cd-howe-institute-monetary
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SOURCE C.D. Howe Institute
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