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Bank of Canada maintains overnight rate

on 30 May 2016
Bank of Canada
To no surprise, the Bank of Canada maintained its overnight rate at ½ percent

The current stance on monetary policy is still appropriate according the BOC.  Oil price shock is still being felt but Q1 results were as predicted.  Q2 is expected to take GDP hit of 1 ¼ percent due to the devastating wild fires in Fort McMurray.    The great news is that Q3 is presumed to rebound once oil production normalizes.