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Bank of Canada lowers overnight rate target by 1/2 percentage point to 3 1/2 per cent

OTTAWA, Ontario, March 04, 2008 — The Bank of Canada today announced that it is lowering its target for the overnight rate by one-half of one percentage point to 3 1/2 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 3 3/4 per cent. Information received since the January Monetary Policy Report Update (MPRU) indicates that economic …

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Source: CanEquity Mortgage News

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