Bank of Canada monetary policy report
The Bank of Canada decided once again to leave the overnight lending rate untouched. However, for the first time in over a year, the policy report did not include warnings of rising rates.
At Wednesday's monetary policy report, the Bank of Canada announced once again that they will keep the overnight lending rate at 1%, the level it has been since late 2010.
Canada's central bank, lead by Stephen Poloz, dropped any reference to borrowing costs rising for the first time in 18 months. It was instead indicated by Poloz that any rate change will be "very clearly later than we thought". The new governor, who replaced Mark Carney earlier this year, would not comment on the future direction rates will take in the future, but said that balancing future data would be a matter of "risk management".