Council Reports

Feb 25

C.D. Howe Institute’s Monetary Policy Council Calls for Bank of Canada to Maintain Overnight Rate at 0.25 Percent, With Increase to 0.75 Percent in September 2010

Toronto, February 25 — The C.D. Howe Institute’s Monetary Policy Council today recommended that the Bank of Canada hold its target for the overnight interest rate (the very short-term money-market rate that the Bank targets for monetary policy purposes) at 0.25 percent at its next announcement on March 2, 2010. The Council further recommended keeping the target at 0.25 percent at the Bank’s next announcement in April, consistent with its conditional commitment to do so until mid-year. The MPC’s recommendation for September, the second announcement date after the Bank’s conditional commitment expires, was for a target of 0.75 percent. Looking one year ahead, the Council’s recommendation was for a target of 2.00 percent in March…

Jan 14

C.D. Howe Institute’s Monetary Policy Council Calls for Bank of Canada to Maintain Overnight Rate at 0.25 Percent, With Increase to 2.00 Percent in January 2011

Toronto, January 14 — The C.D. Howe Institute’s Monetary Policy Council (MPC) today recommended that the Bank of Canada hold its target for the overnight interest rate at 0.25 percent at its next announcement on January 19, 2010. (The overnight rate is a very short-term money-market rate that the central bank targets for monetary policy purposes.) The Council further recommended that the Bank keep the target at 0.25 percent at the next announcement in March, in keeping with the Bank’s conditional commitment to do so until mid-year. The MPC’s recommendation for July, the first announcement date after the Bank’s conditional commitment expires, was for a target of 0.75 percent. Looking one year ahead, the Council’s recommendation…

Dec 03

C.D. Howe Institute’s Monetary Policy Council Calls for Bank of Canada to Maintain Overnight Rate at 0.25 Percent, With Increase to 1.00 Percent in 2010

Toronto, December 3 — The C.D. Howe Institute’s Monetary Policy Council today recommended that the Bank of Canada hold its target for the overnight interest rate at 0.25 percent at its next announcement on December 8, 2009. The Council further recommended that the Bank keep the target at 0.25 percent at the Bank’s subsequent announcement in January, in keeping with the Bank of Canada’s conditional commitment to do so into 2010, and raise it thereafter, with the group’s median call being for a target of 1.00 percent in the second half of 2010. The overnight rate is a very short-term money-market rate that the central bank targets for monetary policy purposes.

The MPC is a panel sponsored by the C.D. Howe Institute to…