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Interest Rates

C.D. Howe Institute Monetary Policy Council Urges Bank of Canada to Hold Rate at .75 Percent through Mid-Year; Looks for 1.25 Percent by March 2016

TORONTO - The C.D. Howe Institute's Monetary Policy Council (MPC) yesterday recommended that the Bank of Canada keep its target for the overnight rate, the very short-term interest rate it targets for monetary policy purposes, at 0.75 percent at its next announcement on March 4, 2015. Looking ahead, the Council called for the Bank to hold the target at .75 percent through to September, and called for a target of 1.25 a year from now.

The MPC provides an independent assessment of the monetary stance appropriate for the Bank of Canada as it pursues its 2 percent inflation target. William Robson, the Institute's President and Chief Executive Officer, chairs the Council.

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