Bank of Canada Press Release

PRESS RELEASE - Bank of Canada keeps target for the overnight rate at 2 3/4 per cent, 3 December.

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 2 3/4 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 3 per cent.

Core and total CPI inflation have remained above the Bank's 2 per cent target for inflation control, largely as a result of one-off price movements such as the increase in insurance premiums.