Bank of Canada maintains overnight rate target at 1 ½ per cent - GIC Wealth Management

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FYI/Blog Bank of Canada maintains overnight rate target at 1 ½ per cent

Bank of Canada maintains overnight rate target at 1 ½ per cent

The Bank of Canada today maintained its target for the overnight rate at 1 ½ per cent. The Bank Rate is correspondingly 1 ¾ per cent and the deposit rate is 1 ¼ per cent.

CPI inflation moved up to 3 per cent in July. This was higher than expected, in large part because of a jump in the airfare component of the consumer price index. The Bank expects CPI inflation to move back towards 2 per cent in early 2019, as the effects of past increases in gasoline prices dissipate. The Bank’s core measures of inflation remain firmly around 2 per cent, consistent with an economy that has been operating near capacity for some time. Wage growth remains moderate.

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https://www.bankofcanada.ca/2018/09/fad-press-release-2018-09-05/?utm_source=RDBA+Email+List+May+2017&utm_campaign=301a4f08c5-NEWS_2018_09_05&utm_medium=email&utm_term=0_2fb13e0136-301a4f08c5-226120685