BoC keeps overnight rates at +1%

October 25, 2011 Share Print 4

Some Key points in the Bank of Canada’s one page policy statement:

“Considerable Monetary Policy Stimulus” with rates at record low.

Economic momentum has slowed

Predicts brief recession in Euro area.

Assumes Euro debt crisis to be contained.

Cuts Canadian GDP to +2.1% in 2011, +1.9% in 2012 and ups 2013 to +2.9%

Inflation outlook roughly balanced.

Net exports a source of weakness, a stronger currency partially to blame.

Sees growth in China, other emerging markets, moderate to more sustainable pace.

The BoC more comprehensive Monetary Policy Reports is delivered on Wednesday 26 October.

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