Bank of Canada raises interest rates

Bank of Canada raises overnight rate target by 1/4 percentage point

to 3 1/4 per cent, 15 April.

Source: Bank of Canada press release

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 1/4 per cent. The operating band for the overnight rate is correspondingly increased, and the Bank Rate is now 3 1/2 per cent.

Since the Bank's last interest rate announcement on 4 March, both core and total CPI inflation have remaine