Bank of Canada holds rates

The Bank of Canada said on 5 September that it is maintaining its target for the overnight rate at 4.5%. The operating band for the overnight rate is unchanged, and the bank rate remains 4.75%.

The central bank said total and core consumer price index inflation in July, at 2.2% and 2.3% respectively, continued to be above the inflation target but generally in line with the central bank's expectations. The Canadian dollar has also largely traded in the range assumed in previous data. The pace o