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.
Following growth of 1.7 per cent in 2012, the Canadian economy is expected to grow by 1.8 per cent in 2013 and 2.7 percent in 2014 and 2015, and to reach full capacity in mid-2015, as anticipated in the April Report.
Responses to the summer survey provide further indications that uncertainty regarding the nature and timing of a notable improvement in growth prospects is bearing on firms’ expectations and investment decisions.
This monthly newsletter features the latest research publications by Bank of Canada economists including external publications and working papers published on the Bank of Canada’s website.