Poloz says low rates may be new norm
Canadian governor says interest rates could remain low after recovery
Bank of Canada governor Stephen Poloz last night warned that interest rates could remain at low levels even when the Canadian economy has recovered.
Poloz told an audience in Saskatoon that "after such a long period at such unusually low levels" interest rates will not need to move as much as they once did to have the same impact on the economy.
Annual CPI inflation rose to 1.5% in March, and the Bank of Canada believes higher energy prices will drive it higher in "the next few quarters". Poloz
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