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Historical Canadian Interest Rates
Bank of Canada and its Interest Policies
Overview and Data for Historical Rates
In Canada, interest rates are managed by the Bank of Canada, the country's central bank. The bank's key interest rate is known as the target overnight rate. It is the minimum rate at which banks can lend money to each other overnight.
The Bank of Canada uses interest rates as a tool to manage inflation and economic growth. When inflation is too high, the bank will raise interest rates to slow down economic activity. When inflation is too low, the bank will lower interest rates to stimulate economic activity.
The historical Canadian-dollar effective exchange rate index and Canadian interest rates and monetary policy variables are available online for further research.
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