Toronto, July 16 — The C.D. Howe Institute’s Monetary Policy Council (MPC) today recommended that the Bank of Canada hold its target for the overnight interest rate at 0.25 percent at its next announcement on July 21, 2009, and keep it there until mid-2010. The overnight rate is a very short-term money-market rate that the central bank targets for monetary policy purposes.

Toronto, June 2 — The C.D. Howe Institute’s Monetary Policy Council (MPC) today recommended that the Bank of Canada hold its target for the overnight interest rate at 0.25 percent at its next announcement on June 4, 2009. The overnight rate is a very short-term money-market rate that the central bank targets for monetary policy purposes.

Toronto, April 16 — The C.D. Howe Institute’s Monetary Policy Council (MPC) today recommended that the Bank of Canada lower the overnight interest rate at its next announcement on April 21, 2009. The overnight rate is a very short-term money-market rate that the central bank targets for monetary policy purposes.

Toronto, February 26 — The C.D. Howe Institute’s Monetary Policy Council (MPC) today recommended that the Bank of Canada lower its target for the overnight interest rate by 50 basis points to 0.50 percent at its next announcement on March 3, 2009. The overnight rate is a very short-term money-market rate that the central bank targets for monetary policy purposes.

Toronto, January 15 — The C.D. Howe Institute’s Monetary Policy Council (MPC) today recommended that the Bank of Canada lower its target for the overnight interest rate by 50 basis points to 1.00 percent at its next announcement on January 20, 2009. The overnight rate is a very short-term money-market rate that the central bank targets for monetary policy purposes.

Toronto, December 4 — The C.D. Howe Institute’s Monetary Policy Council (MPC) today recommended that the Bank of Canada lower its target for the overnight interest rate by 50 basis points to 1.75 percent at its next announcement on December 9, 2008. The overnight rate is a very short-term money-market rate that the central bank targets for monetary policy purposes.

Toronto, October 16 — The C.D. Howe Institute’s Monetary Policy Council (MPC) today recommended that the Bank of Canada lower its target for the overnight interest rate by 50 basis points to 2.00 percent at its next announcement on October 21, 2008. The overnight rate is a very short-term money-market rate that the central bank targets for monetary policy purposes.

Toronto, August 28 — The C.D. Howe Institute’s Monetary Policy Council (MPC) today recommended that the Bank of Canada maintain its target for the key overnight interest rate at 3.00 percent at its next announcement on September 3, 2008. The overnight rate is a very short-term money-market rate that the central bank targets for monetary policy purposes.