C.D. Howe Institute Monetary Policy Council Recommends Bank of Canada Hold Overnight Rate at .75 Percent through Mid-Year; Looks for 1.00 Percent by April 2016

TORONTO, April 8, 2015 /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 0.75 percent at its next announcement on April 15, 2015. Looking ahead, the Council called for the Bank to hold the target at .75 percent through to September, and at 1.00 percent a year from now.

The MPC provides an independent assessment of the monetary stance appropriate for the Bank of Canada as it pursues its 2 percent inflation target.  Finn Poschmann, the Institute's Vice President, Policy Analysis, chaired the Council's 94th meeting.

To read the announcement go to: http://www.cdhowe.org/mpc-recommendation-april-2015/29196

The C.D. Howe Institute is an independent not-for-profit research institute whose mission is to raise living standards by fostering economically sound public policies. It is Canada's trusted source of essential policy intelligence, distinguished by research that is nonpartisan, evidence-based and subject to definitive expert review. It is considered by many to be Canada's most influential think tank.

As a registered Canadian Charity, the Institute relies on donations to conduct its work. We hope this communication demonstrates our value as a public policy research institute and that you will consider donating to the Institute as a result. Please click here to donate via Canada Helps.

SOURCE C.D. Howe Institute

For further information: Kristine Gray - phone: 416-865-1904; kgray@cdhowe.org.


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