May 17, 2000 Bank of Canada Raises Target Overnight Rate by ½ Percentage Point to 5¾ Per Cent Media Relations Ottawa, Ontario The Bank of Canada raised its target for the overnight rate by one-half of one percentage point to 5¾ per cent. The operating band for the overnight rate was correspondingly increased, and the Bank Rate is now 6 per cent. Content Type(s): Press, Press releases