● The Bank of Canada today maintained its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent.
○ The bank says that while the economy is now running close to capacity, inflation won't get back to its two per cent target until the second half of next year because of the recent strength of the Canadian dollar.
● The guarded tone of the statement suggests the Bank of Canada could delay its next move, which many economists had expected would come in December or January.
● Rising protectionism in the U.S. is now "the greatest source of uncertainty" clouding Canada's economic outlook, the bank warns in its latest monetary policy report, also released Wednesday.