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press conference opening statement :-

Good morning. I'm pleased to be here with you to discuss today's policy announcement and the Bank of Canada's Monetary Policy Report (MPR). I am especially pleased to have Senior Deputy Governor Carolyn Rogers here for her first press conference. She has joined the Governing Council at an important time.   

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BANK OF CANADA MAINTAINS POLICY RATE

removes exceptional forward guidance; The Bank of Canada today held its target for the overnight rate at the effective lower bound of ¼ %, with the Bank Rate at ½ % and the deposit rate at ¼ %. With overall economic slack now absorbed, the Bank has removed its exceptional forward guidance on its policy interest rate. The Bank is continuing its reinvestment phase, keeping its overall holdings of Government of Canada bonds roughly constant.

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CMHC-funded group proposes surtax on homes over $1 million dollars

Generation Squeeze argues that the surtax could raise between $4.54 billion and $5.83 billion to go toward other housing projects .

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