Foreign Central Banks
The four major central banks continue to keep their policy settings unchanged. The Bank of Canada, on the other hand, raised its policy rate 25 basis points to 2.25% in mid-April. The bank said this move was aimed at “keeping inflation at its 2 per cent target over the medium term” in the face of “stronger-than-expected economic growth in Canada and the United States.”
Suggested citation: "Foreign Central Banks," Federal Reserve Bank of Cleveland, Economic Trends, no. 02-05, pp. 18, 05.01.2002.