Economic growth in Canada is projected to average just over 1 per cent in 2015 and about 2 1/2 per cent in 2016 and 2017.
Press conference following the release of the Monetary Policy Report.
The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.
Release of the Monetary Policy Report - (Videocast) Press conference by Governor Stephen S. Poloz and Senior Deputy Governor Carolyn Wilkins. (11:15 (ET) approx.).
Release of the Monetary Policy Report - (Audiocast) Press conference by Governor Stephen S. Poloz and Senior Deputy Governor Carolyn Wilkins. (11:15 (ET) approx.).