The following is excerpted from a 5 September 2012 press release by the Bank of Canada.
The Bank of Canada today announced that it is maintaining 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.
Global growth prospects are unfolding largely as the Bank projected in its July Monetary Policy Report (MPR), with a widespread slowing of activity across advanced and emerging economies. The economic expansion in the United States continues at a gradual pace. Europe is in recession and its crisis, while contained, remains acute. In China and other major emerging economies, growth is decelerating somewhat more quickly than expected from previously-rapid rates, reflecting past policy tightening, weaker external demand, and the challenges of rebalancing towards domestic sources of growth. Notwithstanding the slower global momentum, prices for oil and other commodities produced by Canada have, on average, increased since July.
This release is available in its entirety at:
http://www.bankofcanada.ca/2012/09/press-releases/fad-press-release-2012-09-05/
Topic(s)
International Trade and Border Management
Information source
Canadian News Channel
Disclaimer
The foregoing information is provided for informational purposes only and is not intended as, nor should it be considered, professional advice or a substitute for conducting your own thorough research and review. Before making any decisions or taking any action based on the information provided, you should conduct your own independent investigation and/or seek professional advice from a qualified expert in the relevant field. The CSCB disclaims all liability for actions taken or not taken based on the information provided.