The Bank of Canada today maintained its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. The global economy is evolving largely as expected in the Bank’s October Monetary Policy Report (MPR). In the United States, growth in the third quarter was stronger than forecast but is still expected to moderate in the months ahead. Growth has firmed in other advanced economies. Meanwhile, oil prices have moved higher and financial conditions have eased. The global outlook remains subject to considerable uncertainty, notably about geopolitical ... (full story)

After two rate hikes earlier in the year, one of which caught traders by surprise, moments ago the Bank of Canada announced that it had kept its rate on hold at 1.00% as expected. Stateing that "the global economy is evolving largely as expected in the Bank’s October Monetary Policy Report (MPR)" the central bank noted that while in the United States, "growth in the third quarter was stronger than forecast but is still expected to moderate in the months ahead." It added that "growth has firmed in other advanced economies. Meanwhile, oil prices have moved higher and financial conditions have eased." Looking back the ... (full story)