Bank of Canada holds rate at 0.25%: Read the official statement

Financial Post | Jun 3, 2020 at 4:14 PM
  • The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of ¼ percent.
  • Still, the Canadian economy appears to have avoided the most severe scenario presented in the Bank’s April Monetary Policy Report (MPR).
  • Decisive and targeted fiscal actions, combined with lower interest rates, are buffering the impact of the shutdown on disposable income and helping to lay the foundation for economic recovery.