At its 17 January monetary policy meeting, the Bank of Canada (BoC) left the target for the overnight rate unchanged at 1.00%, which was widely expected by market analysts. The Central Bank reaffirmed its dovish stance amid the ongoing sovereign debt crisis in Europe and heightened volatility in the financial markets, by asserting that ?with the target interest rate near historic lows and the financial system functioning well, there is considerable monetary policy stimulus in Canada.? Monetary authorities have left rates unchanged since September 2010. The Bank emphasized that economic growth will remain solid going forward, albeit constrained by external headwinds. In particular, policymakers expect consumer spending and housing activity to buoy Canadian economic growth. The Central Bank also confirmed that it expects inflation to moderate going forward.
Canada Monetary Policy
Bank of Canada maintains overnight rate at 1.00%
January 17, 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.