At its 5 September monetary policy meeting, the Bank of Canada (BoC) left the target for the overnight rate unchanged at 1.00%, a decision widely expected by market analysts. Monetary authorities have left rates unchanged since September 2010. The Central Bank acknowledged that growth in both advanced and emerging economies continues to weaken and that the situation in Europe poses major risks to the global outlook. On the Canadian economy, the Bank stated that "underlying momentum remains at a pace roughly in line with the economy's production potential". Regarding price developments, the Bank stated that inflation is expected to return to the mid-point of its target of 2.0% plus/minus 1.0 percentage points in the short term. Against this backdrop, the Central Bank maintained its position that "some modest withdrawal of the present considerable monetary policy stimulus may become appropriate".
Canada Monetary Policy
Bank of Canada leaves interest rates unchanged
September 5, 2012
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Canada Economic News
October 21, 2016
In September, seasonally-adjusted consumer prices increased 0.2% from the previous month, which contrasted the 0.1% decrease recorded in August and marked the highest print in three months.
October 19, 2016
At its 19 October policy meeting, the Bank of Canada (BoC) decided to maintain its target for the overnight rate at 0.50%, despite a weaker inflation and growth outlook.
October 11, 2016
The Teranet-National Bank National Composite House Price index rose 0.7% in September from the previous month, which followed the 1.5% increase in August.
October 8, 2016
Seasonally-adjusted annualized housing starts registered 220,600 units in September, according to the government-owned Canada Mortgage and Housing Corporation (CMHC).
October 7, 2016
The Ivey Purchasing Managers’ Index (PMI), sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, increased a seasonally-adjusted 6.1 points in September, rising from 52.3 in August to 58.4.