Overnight Rate - Definition, How It Works, Impact on Monetary Policy
Overnight Rate - Definition, How It Works, Impact on Monetary Policy
Dec 13, 2021
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The Bank of Canada today reduced its target for the overnight rate to 3%, with the Bank Rate at 3.25% making this the SIXTH consecutive rate cut; which was strongly predicted by economists. CPI inflation remains close to 2%, with some volatility due to the temporary suspension of the GST/HST on some consumer products. The next scheduled date for announcing the overnight rate target is March 12, 2025.
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