At its latest meeting on 7 December, the Bank of Canada (BoC) maintained the target for the overnight rate unchanged at 1.00%, in a move widely anticipated by the market. The decision was made as the recovery in Canada is proceeding at a moderate pace and risks to the global economic recovery have increased. Although the BoC began tightening its monetary policy in June, further hikes in interest rates are unlikely over the short term. According to the Bank, inflation remains broadly in line with its expectations. The Bank maintains a dovish tone, observing ?an environment of significant excess supply in Canada? and stating that ?any further reduction in monetary policy stimulus would need to be carefully considered?. The next policy meeting is scheduled for 18 January 2011, accompanied by a new Monetary Policy Report, containing an update of the Bank's outlook for economic activity and inflation, on the following day.
Canada Monetary Policy
Central Bank leaves interest rates unchanged
December 7, 2010
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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.