C.D. Howe Institute's Monetary Policy Council Calls for Bank of Canada to Maintain its Benchmark Interest Rate Target to 3.00 Percent

    TORONTO, June 5 /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 to 3.00 percent at its next announcement on June 10.
The overnight rate is a very short-term money-market 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, chairs the Council.

    Independent, reasoned, relevant policy research
    Sign up for monthly E-wire updates at www.cdhowe.org/index.cfm.

For further information:

For further information: Kristine Gray, phone: (416) 865-1904, e-mail:

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