Canada reported inflation of 3.3% in April, the same as March, according to Statistics Canada. The Bank of Canada has an inflation target of 2 percent. Previously the Bank of Canada held the target interest rate unchanged at its April meeting. The Bank next meets to review monetary policy settings on the 19th of July 2011.
Tuesday, May 31, 2011
Bank of Canada Holds Rate at 1.00%
The Bank of Canada maintained the key lending rate unchanged at 1.00%. However the central bank noted that the "considerable monetary policy stimulus in place will be eventually withdrawn,". The Bank also noted the strength of the Canadian Dollar: "The persistent strength of the Canadian dollar could create even greater headwinds for the Canadian economy, putting additional downward pressure on inflation through weaker-than-expected net exports and larger declines in import prices,"
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The canadian economy it's going forward, it's a strength dollar!
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