Bank of Canada increases overnight rate target to 3/4 per cent
OTTAWA, Ontario, July 20, 2010 — The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 3/4 per cent. The Bank Rate is correspondingly 1 per cent and the deposit rate is 1/2 per cent.
The global economic recovery is proceeding but is not yet self-sustaining. Greater emphasis on balance sheet repair by households, …
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