C.D. Howe Institute’s Monetary Policy Council Urges Bank of Canada to Hold Overnight Rate at 1.00 Percent
TORONTO, Feb. 28, 2013 /CNW/ – The C.D. Howe Institute’s Monetary Policy Council (MPC) today recommended that the Bank of Canada maintain its target for
the overnight rate, the very short-term interest rate the Bank targets
for monetary policy purposes, at 1.00 percent at its next announcement
on March 6, 2013. The Council further called for the Bank to hold the
target at 1.00 through to March of 2014.
The MPC is a C.D. Howe Institute project that provides an independent
assessment of the Bank of Canada’s monetary stance as it pursues its 2
percent inflation target. William Robson, the Institute’s President and CEO, chairs the Council.
SOURCE C.D. Howe Institute