The Bank of Canada announced today that it is maintaining its target for the overnight rate at 1.75 per cent.
The Bank mentioned that the global economic expansion is moderating and that trade conflicts are weighing more heavily on global demand. In Canada, although the economy as a whole grew in line with the Bank’s projection in the third quarter, data suggest less momentum going into the fourth quarter.
The Bank continues to judge that the policy interest rate will need to rise into a neutral range to achieve the inflation target.
The next scheduled date for announcing the overnight rate target is January 9, 2019.
To learn more: Bank of Canada official press release