Bank of Canada Maintains Overnight Rate Target At 1% – 12/7/2010
Dec07

Bank of Canada Maintains Overnight Rate Target At 1% – 12/7/2010

On 12/7/2010, The Bank of Canada (BoC) announced it is maintaining its overnight interest rate at 1%. The Bank Rate is correspondingly 1.25% and the deposit rate is 0.75%. . Canada’s weak net exports & productivity The move reflects the central bank’s observation that economic activity in Canada has been slightly weaker than it projected in October, due to weak net exports and productivity (declines in GDP).  The...

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Bank of Canada Holds Rate Steady At 1% – 10/19/2010

On 10/19/2010, The Bank of Canada (BoC) announced it is maintaining its overnight interest rate at 1%. The Bank Rate is correspondingly 1.25% and the deposit rate is 0.75%. The move reflects the central bank’s lower expectations of a more moderate pace of growth in advanced economies due to global deleveraging activities and difficult labour issues.  In particular, the bank sees a weaker than expected recovery in the US due to...

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The Bank of Canada Raises Overnight Rate to 1% – 9/8/2010

On 9/8/2010, The Bank of Canada (BoC) announced it is raising its overnight interest rate by 0.25% to 1%. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. The next scheduled date for announcing the overnight rate target is October 19, 2010. Although almost all retail bank economists, the media, analysts, and many politicians, have voiced their view against the central bank rate increase, it is...

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