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Bank-of-Canada-overnight-rate-inflation-sept-2013The bank did not have any compelling case to push the overnight lending rate up. Canadian dollar started its descend and global economy is not showing any promising recovery yet, inflation is still within its target – why make a move?

Canadian economy still facing output gap and housing is not posing any imminent threat. The temporary calm condition kept the bank in check.

The bank decided to call it a pass this time.