Canada hints at September rate rise

In a speech on August 23, Bank of Canada Deputy Governor David Longworth gave strong signals that the bank is contemplating raising its overnight interest rate from two percent at its September 8 meeting, according to the Globe and Mail newspaper.

In the speech Mr Longworth revised the central bank's measurement of second quarter GDP growth up from four percent to five percent, and said that there are suggestions the output gap is closing. The core rate of inflation was 1.9 percent in July, up

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