C.D. Howe Institute Monetary Policy Council Urges Bank of Canada to Hold Overnight Rate at 1.00 Percent for Next Six Months; Looks for 1.75 Percent by July 2015 - Wandtv.com, NewsCenter17, StormCenter17, Central Illinois News-
C.D. Howe Institute Monetary Policy Council Urges Bank of Canada to Hold Overnight Rate at 1.00 Percent for Next Six Months; Looks for 1.75 Percent by July 2015
Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact firstname.lastname@example.org.
SOURCE C.D. Howe Institute
TORONTO, July 10, 2014 /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 it targets for monetary policy purposes, at 1.00 percent at its next announcement on July 16, 2014. Looking ahead, the Council called for the Bank to hold the target at 1.00 percent through the rest of 2014, but called for a target of 1.75 by July 2015.
The MPC provides 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 87th meeting.