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Bank of Canada thinks economy will recover in second half of the

first_img Why this economy is less Goldilocks and more Three Little Pigs Share this storyBank of Canada thinks economy will recover in second half of the year Tumblr Pinterest Google+ LinkedIn ← Previous Next → 6 Comments Bank of Canada thinks economy will recover in second half of the year ‘The Canadian economy is currently facing some headwinds’ Bank of Canada holds rate, drops bias for future hikes as economy stalls Featured Stories Reddit Email Twitter Related Stories Sponsored By: Facebook Comment More Reuters April 30, 201911:56 AM EDT Filed under News Economy OTTAWA — Bank of Canada Governor Stephen Poloz on Tuesday said that while the Canadian economy currently faced some headwinds, there was good reason to believe growth would accelerate in the second half of this year.Poloz, speaking to the House of Commons finance committee, reiterated that he felt an accommodative policy on interest rates was still warranted.Last week the central bank made clear rate hikes were off the table for now, given the economy was struggling to cope with lower oil prices, weak household spending and the impact of global trade conflicts. Canada’s economy unexpectedly shrinks as resource sector stalls Ottawa is running a $3.1-billion surplus with just one month to go in the fiscal year. What happened to the deficit? Bank of Canada could resume hikes if data proves slowdown temporary: Poloz It also cut its estimate for annualized first quarter growth to just 0.3 per cent.“The Canadian economy is currently facing some headwinds, but there is good reason to believe that the economy will accelerate in the second half of this year,” said Poloz.Related Stories:High-flying loonie could give Bank of Canada pause in this week’s interest rate decisionBank of Canada content to leave rates unchanged, frets about trade war damageBank of Canada expected to part ways with central bankers around the world today“We will continue to evaluate the appropriate degree of monetary policy accommodation as new data arrive. In particular, we are monitoring developments in household spending, oil markets and global trade policy.” © Thomson Reuters 2019 Join the conversation → advertisement Bank of Canada Governor Stephen Poloz told the House of Commons finance committee that he felt an accommodative policy on interest rates was still warranted.David Kawai/Bloomberg What you need to know about passing the family cottage to the next generation Stephen Poloz inverts Canada’s yield curve by removing rate-hike biaslast_img read more

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