C.D. Howe Institute's Monetary Policy Council Urges Bank of Canada to Hold Overnight Rate at 1.00 Percent

TORONTO, July 11, 2013 /CNW/ - The C.D. Howe Institute's Monetary Policy Council (MPC) today recommended that the Bank of Canada maintain 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 July 17, 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 July 2014.

The MPC is a panel sponsored by the C.D. Howe Institute to provide an independent assessment of the monetary stance most appropriate for the Bank of Canada as it seeks to achieve its 2 percent inflation target. William Robson, the Institute's President and Chief Executive Officer, chaired the Council's 79th meeting.

For the report go to: http://www.cdhowe.org/mpc-recommendations-july-2013/22239

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
300-67 Yonge Street, Toronto, M5E 1J8
Phone: 416-865-1904x2606 or 416-367-2606 (Direct); Fax 416-865-1866

Essential Policy Intelligence
Web: www.cdhowe.org
Follow us on twitter, facebook and linkedin.
Sign up for notifications on our research and policy work by clicking here.


Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .


Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.


Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.