The Bank of Canada announced on Tuesday 20 July that it is maintaining its target for the overnight rate at 2 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 2 1/4 per cent, the bank said in a press release.
The Bank's outlook for economic growth and core inflation in Canada is little changed from the April Monetary Policy Report. The Canadian economy is judged to be operating slightly closer to full production capacity than had been anticipated i
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