David Yeoman's Blog - Archives June, 2010

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Home : Blogs : David Yeoman : David Yeoman's Blog : Archives June, 2010

Bank of Canada increases overnight rate target to 1/2 per cent - 06/03/10 11:25 AM

Bank of Canada increases overnight rate target to 1/2 per cent and re-establishes normal functioning of the overnight market
OTTAWA - The Bank of Canada today announced that it is raising its target for the overnight rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal operating band of 50 basis points for the overnight rate.
The global economic recovery is proceeding but is increasingly uneven across countries, with strong momentum in emerging market economies, some … (2 comments)

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