Bank of Canada Keeps 1.0% Overnight Rate Target

September 3, 2014

It’s been four years since the last Canadian central bank rate change, and it could be some time longer.  A statement today from Bank of Canada officials reaffirmed that current policy is “appropriate” and added that “the Bank remains neutral with respect to the next change to the policy rate” both regarding direction and timing.  The mid-2014 level of Canadian GDP was just about where officials were assuming, and they anticipated another two years until excess capacity is aborbed completely.

Copyright 2014, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

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