Central bank keeps overnight rate at 4 1/2 percentage
October 16 , 2007
OTTAWA (CP) - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 4 1/2 per cent. The operating band for the overnight rate will therefore remain unchanged at 4 3/4 per cent.
In line with this projection, the Bank judges, at this time, that the current level of the target for the overnight rate is consistent with achieving the inflation target over the medium term.
Information note:
The Bank of Canada's next scheduled date for announcing the overnight rate target is 4 December 2007.
Previous article from the Bank of Canada.
