Poloz sees risks to inflation outlook as ‘roughly balanced’ as Canada holds rates
Central bank holds the target for the overnight rate at 0.5%
Bank of Canada governor Stephen Poloz stressed "economic momentum is building" in the country today (October 21), as the central bank kept its target for the overnight rate at 0.5%.
Poloz acknowledged it was "clear that there are risks to our outlook". Lower commodity prices and a drop in business investment are acting as drags, but stronger US demand, a weaker currency and earlier monetary stimulus are all "having a positive effect on growth", he said.
Annual CPI inflation is running at 1.3%
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