TORONTO, Nov. 28, 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 December 4, 2013. The Council further called for the
Bank to hold the target at 1.00 through to December 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 82nd meeting.
MPC members make recommendations for the Bank of Canada's upcoming
interest-rate announcement, the subsequent announcement, and the
announcements six months and one year ahead. The Council's formal
recommendations for each announcement are the median votes of the
For the full report go to: http://www.cdhowe.org/mpc-recommendations-nov-2013/23649
Essential Policy Intelligence
Follow us on Twitter, facebook and LinkedIn.
Sign up for free notifications at www.cdhowe.org/follow-us
SOURCE: C.D. Howe Institute
For further information:
Kristine Gray Executive Assistant to the Vice President, Research and Senior Coordinator, Research, C.D. Howe Institute