Bank of Canada ‘sharpens’ forward guidance
The Bank of Canada introduced new forward guidance yesterday, binding its monetary policy to the spare capacity in the Canadian economy, its inflation outlook and household debt.
The announcement came after the council voted to keep its benchmark interest rate at 1% for the 35th successive meeting, in anticipation of "choppy" economic growth and further "subdued" inflation.
It will stay at 1%, the council said, "as long as there is significant slack in the Canadian economy, the inflation outlook
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