Keep rate tar­get on hold: C.D. Howe

The Guardian (Charlottetown) - - BUSINESS -

TORONTO — The C.D. Howe In­sti­tute's mon­e­tary pol­icy coun­cil is rec­om­mend­ing the Bank of Canada keep its tar­get for the overnight rate on hold when it makes its rate an­nounce­ment next week. Seven mem­bers of the think tank's coun­cil voted to keep the key rate on hold at 0.75 per cent, while four sup­ported a cut to 0.5 per cent. The split in opin­ion among mem­bers of the group comes amid con­cerns about the econ­omy and spec­u­la­tion Canada slipped into a re­ces­sion in the first half of the year.

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