Bank of Canada Buys C$1.44 Billion of Securities for 1 Day

(Updates amount in first paragraph)

Nov. 1 (Bloomberg) -- The Bank of Canada bought a total of C$1.44 billion ($1.42 billion) of securities for one day.

The central bank announced the purchases, aimed to keep overnight lending rates close to its current target of 1 percent, on its website today from Ottawa. Earlier, the bank said it had bought C$1.055 billion of securities in two announcements.

--Editor: Paul Badertscher

To contact the reporter on this story: Paul Badertscher in Ottawa at pbadertscher@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net