C.D. Howe Institute's Monetary Policy Council Calls for Bank of Canada to Keep its Benchmark Interest Rate Target at 3.00 Percent
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[August 28, 2008]

C.D. Howe Institute's Monetary Policy Council Calls for Bank of Canada to Keep its Benchmark Interest Rate Target at 3.00 Percent

(Canada Newswire English Via Acquire Media NewsEdge) Attention Business Editors

TORONTO, Aug. 28 /CNW/ - The C.D. Howe Institute's Monetary Policy Council (MPC) today recommended that the Bank of Canada maintain its target for the key overnight interest rate at 3.00 percent at its next announcement on September 3, 2008. The overnight rate is a very short-term money-market rate that the central bank targets for monetary policy purposes.



The MPC is a panel sponsored by the C.D. Howe Institute to provide an independent assessment of the monetary stance most appropriate for the Bank of Canada as it seeks to achieve its 2 percent inflation target. William Robson, the Institute's President and CEO, chairs the Council.

The release is available at:


http://www.cdhowe.org/display.cfm?page=monetaryReleases

Kristine Gray, phone: (416) 865-1904, e-mail: kgray@cdhowe.org

Copyright ? 2008 Canada Newswire Ltd. All Rights Reserved.

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