Economics
Bank of Canada Rate Hike Signal Sends Loonie Higher
- Reasons to be encouraged by recent Canadian performance
- Wilkins says 2015 rate cuts faciliated oil price adjustment
Bank of Canada Encouraged About Economic Recovery
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The Bank of Canada offered its strongest signal yet that it’s ready to raise interest rates as the economy gathers steam, in surprise comments that sent the Canadian dollar and bond yields soaring.
In a speech Monday, Senior Deputy Governor Carolyn Wilkins highlighted how the nation’s recovery is broadening across regions and sectors, giving policy makers “reason to be encouraged.” She downplayed worries about Toronto’s housing market and said policy makers need to keep their eye on the future evolution of growth, not only current economic conditions.