The Bank of Canada today released its Update to the October Monetary Policy Report. The Update discusses current economic and financial trends in the context of Canada's inflation-control strategy.
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 2 1/2 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 2 3/4 per cent.
As part of its ongoing efforts to improve the security of Canadian bank notes, the Bank of Canada will issue a $10 note with upgraded security features beginning 18 May 2005.