Bank of Canada Deputy Governor Gravel: We won't respond to every slight deviation because such fluctuations can provide beneficial market signals. Implementing an overnight repurchase operation as appropriate means we allow a certain deviation from the average overnight interest rate in Canada. The Bank of Canada and the Canadian Financial Supervisory Authority issued a joint statement saying that the use of permanent liquidity tools to obtain overnight liquidity is not regarded as an abnormal event, nor does it mean that there is pressure.

Bank of Canada Deputy Governor Gravel: We won't respond to every slight deviation because such fluctuations can provide beneficial market signals. Implementing an overnight repurchase operation as appropriate means we allow a certain deviation from the average overnight interest rate in Canada. The Bank of Canada and the Canadian Financial Supervisory Authority issued a joint statement saying that the use of permanent liquidity tools to obtain overnight liquidity is not regarded as an abnormal event, nor does it mean that there is pressure.