CanEquity Mortgage Canada
Canadian mortgage rates,
mortgage calculator & news.

Canadian Mortgage News

March 2005 National News Archive


Related Links:
National Archive
2005 Archive
January 2005
February 2005
March 2005
April 2005
May 2005
June 2005
July 2005
August 2005
September 2005
October 2005
November 2005
December 2005

CanEquity Mortgage News RSS 2.0 Feed

CanEquity Mortgage News Atom Feed

About RSS and Atom Feeds

Portable Document Format Printable Version Page d'accueil franšais

Bank of Canada keeps target for the overnight rate at 2 1/2 per cent

OTTAWA, Ontario, March 1, 2005 — The Bank of Canada today announced that it is maintaining its target for the overnight rate at 2 1/2 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 2 3/4 per cent.

Since the release of the January Monetary Policy Report Update, the accumulated information on the Canadian and global economies has been broadly consistent with the Bank's expectations. Although the Canadian National Accounts indicated that output growth in the fourth quarter of 2004 was somewhat lower than anticipated in the Update, upward revisions to growth earlier in the year imply a level of economic activity at year end that is in line with the Bank's expectations. The outlook for the Canadian economy and inflation, the analysis of the factors at play, and the implications for the pace of reduction in monetary stimulus are essentially unchanged from those that the Bank presented in January's Update. Consistent with this assessment, the Bank decided to leave the target for the overnight rate unchanged.

Information note:
The Bank of Canada's next scheduled date for announcing the overnight rate target is 12 April 2005. The Monetary Policy Report will be published on 14 April 2005.

CONTACT: Jeremy Harrison
(613) 782-8782

News source: Bank of Canada


Top of page