March 2, 2004
Bank of Canada lowers target for the overnight rate by 1/4 percentage point to 2 1/4 per cent
The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 2 1/4 per cent. The operating band for the overnight rate is correspondingly lowered, and the Bank Rate is now 2 1/2 per cent.