C.D. Howe Institute’s Monetary Policy Council Urges Bank of Canada to Hold Overnight Rate at 1.00 Percent
TORONTO, Oct. 17, 2013 /CNW/ – The C.D. Howe Institute’s Monetary Policy Council (MPC) today recommended that the Bank of Canada keep 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
October 23, 2013. The Council further called for the Bank to hold the
target at 1.00 through to early 2014, before raising it to 1.25 percent
by October 2014.
The MPC is a panel sponsored by the C.D. Howe Institute to provide an
independent assessment of the monetary stance appropriate for the Bank
of Canada as it aims for its 2 percent inflation target. William Robson, the Institute’s President and Chief Executive Officer, chaired the
Council’s 81(st) meeting.
For the full report go to: http://www.cdhowe.org/mpc-recommendations-oct-2013/23171
SOURCE C.D. Howe Institute