Bank of Canada keeps interest rate unchanged

The Bank of Canada announced Tuesday 1 March that it is maintaining its target for the overnight rate at 2 1/2 per cent. The Bank said the outlook for the Canadian economy and inflation remained essentially unchanged since January.

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