Bank of Canada keeps Interest Rate steady
31 May 2011
The Bank of Canada policy makers kept their key interest rate unchanged and added language about a potential increase for the first time since September, saying they will raise rates "eventually" as the economy recovers. The target for overnight loans between commercial banks remained 1 percent. The bank said Canada's recovery is "proceeding largely as expected," adding that any interest rate increase would be "consistent with achieving the 2 percent inflation target."