C.D. Howe Institute's Monetary Policy Council Urges Bank of Canada to Hold Overnight Rate at 1.00 Percent

TORONTO, Feb. 27, 2014 /CNW/ - The C.D. Howe Institute's Monetary Policy Council (MPC) today recommended that the Bank of Canada keep its target for the overnight rate, the very short-term interest rate it targets for monetary policy purposes, at 1.00 percent at its next announcement on March 5, 2014. The Council further called for the Bank to hold the target at 1.00 percent through to March 2015.

The MPC provides an independent assessment of the monetary stance appropriate for the Bank of Canada as it aims for its 2 percent inflation target. William Robson, the Institute's President and Chief Executive Officer, chaired the Council's 84^th meeting.

For the report go to: http://www.cdhowe.org/mpc-recommendations-feb-2014/24991

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SOURCE: C.D. Howe Institute

Kristine Gray
Executive Assistant to the Vice President, Research and Senior Coordinator, Research
C.D. Howe Institute
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