OTTAWA (Oct 19): Following is the text accompanying the Bank of Canada’s decision to keep its benchmark overnight rate target at 0.50%. The Bank of Canada today announced it is maintaining its target for the overnight rate at 1/2%. The Bank Rate is correspondingly 3/4% and the deposit rate is 1/4%. The Bank expects Canada’s real GDP to grow by 1.1% in 2016 and about 2% in both 2017 and 2018. Information note: The next scheduled date for announcing the overnight rate target is Dec 7, 2016.

Source: The Edge Markets October 19, 2016 14:37 UTC