Canada's Duguay on the conduct of monetary policy

In the speech 'The conduct of monetary policy: Dealing with changes in the terms of trade' given on 4 April Pierre Duguay of the Bank of Canada said interest rates may need to rise to control inflation.

``Some modest further increase in the policy interest rate may be required to keep aggregate supply and demand in balance and inflation on target over the medium term,'' Duguay said in the speech in Kelowna, British Columbia.

The global economy may grow ``a touch'' faster this year than the 4

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