(Updates with settlement balances in third paragraph.)
Oct. 28 (Bloomberg) -- The Bank of Canada bought C$835 million ($838 million) of securities for one day.
The central bank announced the purchase, aimed to keep overnight lending rates close to its current target of 1 percent, on its website today from Ottawa.
The bank also increased the amount of settlement balances in the Large Value Transfer System to C$376 million from the regular daily target of C$25 million. The funds are used to help settle payments between banks and brokers, and a higher amount can also encourage lower interest rates on interbank loans.
The central bank said the settlement balances target for Oct. 31 would be C$300 million.
--Editor: Paul Badertscher
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