today announced that it is maintaining its target for the #overnightrate
. NO CHANGES.
Here is a summary of their report:
- - Total CPI inflation is at 1 per cent, reflecting the drop in consumer energy prices.
- - The Bank expects global growth to strengthen and average 3 1/2 per cent per year over 2015-17
- - The Canadian economy is estimated to have stalled in the first quarter of 2015.
- - The very weak first quarter has led to a widening of Canada’s output gap and additional downward pressure on projected inflation.
- - Risks to the outlook for inflation are now roughly balanced and risks to financial stability appear to be evolving as expected.
To read the full report, click on this link http://www.bankofcanada.ca/