Canada holds rate but raises growth forecast in light of fiscal boost
Stephen Poloz highlights “more favourable policy mix” in press conference
The Bank of Canada held its policy rate at 0.5% and revised upwards its growth projections today (April 13), in light of what governor Stephen Poloz described as a "more favourable policy mix".
It now expects growth of projections to 1.7% this year, with 2.3% and 2.0% in 2017 and 2018 respectively. Its latest monetary policy report, published alongside the decision, said this "largely" reflects recently announced fiscal measures.
These measures "more than offset" the drag associated with other
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