Central bank holds overnight rate at 4 1/4 percentage
September 6 , 2006
OTTAWA (CP) - The Bank of Canada today announced that it is maintaining its target for the overnight rate at 4 1/4 per cent. The operating band for the overnight rate will therefore remain unchanged at 4 1/2 per cent.
The Bank of Canada cites continued strength in the global economy. In Canada, the economy continues to fall in line with the Banks expectations in terms of output and inflation. Going forward, the Bank continues to expect the Canadian economy to operate at about its production potential.
Information note:
The Bank of Canada's next scheduled date for announcing the overnight rate target is 19 October 2006.
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