At its meeting held on 19 July, the Bank of Canada (BoC) left the target for the overnight rate unchanged at 1.00%, which was broadly expected by market analysts. With this decision, policymakers have opted to keep rates on hold over the last seven meetings. Although the Central Bank stated that any reduction in monetary stimulus would require careful consideration, policymakers indicated that the stimulus will be ?withdrawn? rather than ?eventually withdrawn?, which was the case in the previous press release. The subtle modification signals a hike in rates should be expected sooner rather than later. The Bank of Canada estimates that the economy gathered further momentum in the second quarter, supported by strong business investment, and expects economic growth to accelerate in the second half of the year. In addition, monetary authorities expect inflationary pressures to gradually abate and converge to the 2.0% target by the middle of 2012.
Canada Monetary Policy
Central Bank leaves interest rates unchanged
July 19, 2011
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Canada Economic News
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.
September 30, 2016
In July, GDP grew a strong 0.5% over the previous month in seasonally-adjusted terms.
September 23, 2016
In August, seasonally-adjusted consumer prices recorded a 0.1% decrease over the previous month, which was down from the flat figure recorded in July and marked the lowest reading in six months.