Bank of Canada sees 'front-loaded' oil price effects
Latest monetary policy report estimates Canadian economy was stagnant in first quarter
The negative effects of lower oil prices have begun to emerge in Canada and appear "more front-loaded" than expected in January, according to the Bank of Canada's latest monetary policy report, published yesterday.
As a result, the central bank's estimate of real GDP growth has been revised down to zero for the first quarter of 2015, though it expects this to "rebound" in the coming months.
The changes refer only to the timing of the impacts, rather than their size. "Over the projection horizon
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