Keep rate target on hold: C.D. Howe

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.