Bank of Canada Monetary Policy Report Update

The Bank of Canada released its July Monetary Policy Report Update on 15 July. The Bank said it expects Canada's economy to grow by about 2.7 per cent in 2005 and 3.3 per cent in 2006.

Global and Canadian economic developments have been unfolding broadly as expected, and the Bank's outlook for output and inflation in Canada through to the end of 2006 is little changed from the scenario outlined in the April Monetary Policy Report. Strong growth in final domestic demand in Canada continues to

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