Tuesday, April 21, 2009

CHRONOLOGY-Bank of Canada rate changes since 2000

TORONTO, April 21 (Reuters) - The Bank of Canada lowered its overnight rate by 25 basis points on Tuesday to a historic low of 0.25 percent. The central bank also took the unusual step of providing guidance on rates, saying it will keep the key overnight rate at 0.25 percent until mid-2010. In addition, it made no explicit commitment to taking unconventional measures to spur the economy even as it forecast a deeper recession than it had previously expected. The central bank's next rate announcement is due June 4.

BOCFAD The following is a chronology of the Bank of Canada's
changes to the overnight rate since 2000. Moves are measured in
basis points (bps), each of which equals one-hundredth of a
percentage point:

2009
April 21 - Cut 25 bps to 0.25 pct
March 3 - Cut 50 bps to 0.50 pct
Jan. 20 - Cut 50 bps to 1.00 pct
2008
Dec. 9 - Cut 75 bps to 1.50 pct
Oct. 21 - Cut 25 bps to 2.25 pct
April 22 - Cut 50 bps to 3.00 pct
March 4 - Cut 50 bps to 3.50 pct
Jan. 22 - Cut 25 bps to 4.00 pct
2007
Dec. 4 - Cut 25 bps to 4.25 pct
July 10 - Raised 25 bps to 4.50 pct
2006
May 24 - Raised 25 bps to 4.25 pct
April 25 - Raised 25 bps to 4.00 pct
March 7 - Raised 25 bps to 3.75 pct
Jan. 24 - Raised 25 bps to 3.50 pct
2005
Dec. 6 - Raised 25 bps to 3.25 pct
Oct. 18 - Raised 25 bps to 3.00 pct
Sept 7, - Raised 25 bps to 2.75 pct
2004
Oct. 19 - Raised 25 bps to 2.50 pct
Sept 8 - Raised 25 bps to 2.25 pct
April 13 - Cut 25 bps to 2.00 pct
March 2 - Cut 25 bps to 2.25 pct
Jan. 20 - Cut 25 bps to 2.50 pct
2003
Sept. 3 - Cut 25 bps to 2.75 pct
July 15 - Cut 25 bps to 3.00 pct
April 15 - Raised 25 bps to 3.25 pct
March 4 - Raised 25 bps to 3.00 pct
2002
July 16 - Raised 25 bps to 2.75 pct
June 4, - Raised 25 bps to 2.50 pct
April 16 - Raised 25 bps to 2.25 pct
Jan. 15 - Cut 25 bps to 2.00 pct
2001
Nov. 27 - Cut 50 bps to 2.25 pct
Oct. 23 - Cut 75 bps to 2.75 pct
Sept. 17 - Cut 50 bps to 3.50 pct
Aug. 28 - Cut 25 bps to 4.00 pct
July 17 - Cut 25 bps to 4.25 pct
May 29 - Cut 25 bps to 4.50 pct
April 17 - Cut 25 bps to 4.75 pct
March 6 - Cut 50 bps to 5.00 pct
Jan. 23 - Cut 25 bps to 5.50 pct
2000
May 17 - Raised 50 bps to 5.75 pct
March 22 - Raised 25 bps to 5.25 pct
Feb. 3 - Raised 25 bps to 5.00 pct
(Compiled by Ka Yan Ng)

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