C.D. Howe Institute Monetary Policy Council Calls for Bank of Canada to Hold Overnight Rate at 0.50 Percent until 2017

TORONTO, Jan.14, 2016 /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 0.50 percent at its next announcement on January 20, 2016, and maintain it at that level for the rest of the year.

The MPC provides an independent assessment of the monetary stance appropriate for the Bank of Canada as it pursues its 2 percent inflation target. William Robson, the Institute's President and Chief Executive Officer, chairs the Council.

To read the announcement go to:  https://www.cdhowe.org/council-reports/cd-howe-institute-monetary-policy-council-calls-bank-canada-hold-overnight-rate-050-percent-until-1

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SOURCE C.D. Howe Institute

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