Bank of Canada - No Change Today
April 20, 2010 by Gordon McCallum
The Bank of Canada left it’s overnight rate at .25% today but signaled that the days of record-low interest rates are soon over.
“With recent improvements in the economic outlook, the need for such extraordinary policy is now passing, and it is appropriate to begin to lessen the degree of monetary stimulus,” the central bank said in its statement. “The extent and timing will depend on the outlook for economic activity and inflation, and will be consistent with achieving the 2% inflation target.”
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