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.
The survey results point to an overall easing in business-lending conditions during the third quarter of 2011. The balance of opinion of both the price and non-price aspects of business lending eased during the quarter.
Responses to the autumn survey point to less optimism among firms than in the summer survey. Indicators of future business activity, capacity constraints and price pressures have all moved down from the levels recorded in the previous survey.
Senior Deputy Governor Tiff Macklem discusses some of the challenges facing the private and public sectors as they manage risk in the new global economic landscape.
Recent changes in the global economic environment present both significant challenges and opportunities for Canada, Governor Mark Carney said in a speech to the Saint John Board of Trade.