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Bank of Canada keeps overnight rate target at 3 per cent

OTTAWA, Ontario, September 03, 2008 — The Bank of Canada today announced that it is maintaining its target for the overnight rate at 3 per cent. The operating band for the overnight rate is unchanged, and the Bank Rate remains at 3 1/4 per cent. The three global developments highlighted in the July Monetary Policy Report Update continue to have a major influence on the Canadian economy. …

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Source: CanEquity Mortgage News

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