Bank of Canada Affirms Interest Rate Pledge

The Bank of Canada today reiterated its earlier pledge to maintain the benchmark interest rate at 0.25 percent until the end of June providing a rise in inflation does not occur in the meantime.

“On 19 January, the bank reaffirmed its conditional commitment to hold its policy rate at 1/4 percent until mid- 2010 in order to achieve its inflation target,” Deputy Governor Pierre Duguay said, according to a slide presentation he was giving in Levis, Quebec, and posted on the central bank’s website.

Source: Reuters

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