Canada's Longworth on monetary policy

In the speech 'Monetary policy: One instrument, one target' given on 29 September David Longworth of the Bank of Canada said the Canadian economy will feel only a modest impact from hurricanes Katrina and Rita, but higher oil prices will result in a temporary increase in headline September inflation.

Longworth also said the Canadian economy is running close to capacity and monetary policy was "still stimulative."

"When the September data are released next month, a temporary spike in headline

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