Wednesday, March 2, 2011

Bank of Canada Holds Rate at 1.00%

The Bank of Canada held its benchmark interest rate unchanged at 1.00%, continuing its pause in monetary policy normalization. The Bank also continued to note that "any further reduction in monetary policy stimulus would need to be carefully considered," and commented on the heightened level of global risks. Canada recorded year on year inflation of 2.3% in January this year, compared to 2.4% in December 2010, and a 2.0% inflation target.


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