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Free AccessBOC Deputy Governor Larry Schembri said gap..>
CANADA: BOC Deputy Governor Larry Schembri said output gap is
essentially closed, projecting low unemployment rate and
hitting targeted inflation rate.
- Economy has welcome degree of resilience to negative shocks.
- BOC will keep monetary policy appropriate to our own circumstances.
- There has been weakness in consumption and investment; economy will
slow in the second half of this year.
- Trade war and uncertainty is biggest risk to forecast.
- International trade uncertainty could cause complex shock.
- Rise in income and lower interest rate results in unexpected
strength in housing market.
-Schembri gave speech Thursday following Wednesday's BOC decision
to hold its key interest rate at 1.75%.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.