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Mortgage News & Press Releases - May 2000

  • Bank of Canada Raises Target Overnight Rate by ½ Percentage Point to ...
    OTTAWA, Ontario, May 17, 2000 — The Bank of Canada raised its target for the overnight rate by one-half of one percentage point to 5¾ per cent. The operating band for the overnight rate was correspondingly increased, and the Bank Rate is now 6 per cent. In its latest Monetary Policy Report, released last week, the Bank took note of the strength of demand in Canada from both …

 
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