BOC Standard Operating Framework for the Implementation of Monetary Policy

From bankofcanada.ca

As part of the Bank of Canada's interest rate decision on 1 June 2010, the Bank will re-establish the standard operating framework for the implementation of monetary policy.1 The key features of this framework are the target for the overnight rate, the operating band, and settlement-balance management. Effective immediately, the target for the overnight rate will be the midpoint of the operating band and the width of the operating band will revert to 50 basis points. The Bank will conduct Special Purchase and Resale Agreement (SPRA) and Sale and Repurchase Agreement (SRA) operations as necessary to reinforce the ... (full story)