C.D. Howe Institute's Monetary Policy Council Calls for Bank of Canada to Hold its Benchmark Interest Rate Target at 4.25 Percent

    TORONTO, April 19 /CNW/ - The C.D. Howe Institute's Monetary Policy
Council (MPC) today recommended that the Bank of Canada keep its target for
the key overnight interest rate at 4.25 percent when it makes its next
announcement on April 24. The overnight rate is a very short-term money-market
interest rate that the central bank targets for monetary policy purposes.
    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 CEO, chaired this Council session.
    The vote for an unchanged rate was a narrow one: five of the nine members
attending called for an unchanged rate, while four called for a 25-basis-point
increase in the target to 4.50 percent.

    For the full press release go to:

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