Bank of Canada Governor Stephen Poloz kept his main interest rate unchanged and reiterated that current monetary policy remains appropriate as an expected rotation of demand to exports and investment is being delayed.
Policy makers kept the benchmark rate on overnight loans between commercial banks at 1 percent for the 24th consecutive meeting and said slack in the economy will start to disappear in 2014. The decision from Ottawa was forecast by all 22 economists in a Bloomberg News survey.
“A gradual normalization of policy interest rates” can be expected as inflation returns to target and excess capacity in the economy is used up, policy makers led Poloz, 57, said in a statement from Ottawa today, echoing the last decision...continue
Policy makers kept the benchmark rate on overnight loans between commercial banks at 1 percent for the 24th consecutive meeting and said slack in the economy will start to disappear in 2014. The decision from Ottawa was forecast by all 22 economists in a Bloomberg News survey.
“A gradual normalization of policy interest rates” can be expected as inflation returns to target and excess capacity in the economy is used up, policy makers led Poloz, 57, said in a statement from Ottawa today, echoing the last decision...continue