Impact of pledge to keep rates on hold unclear: Bank of Canada
The Bank of Canada's issuance of a conditional commitment last April, promising the benchmark rate would remain at 0.25% till the second quarter of this year, has had an unclear effect, a paper released by the central bank on Tuesday posited.
The central bank included the conditional commitment in its decision of 21 April last year, as a means of providing further stimulus by influencing interest rates at longer maturities. Mark Carney, the governor of the central bank, observed in the weeks
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