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Bank of Canada rate statement: What the economists say

Blog by Brad Herman | March 7th, 2013

Recognizing the obvious, the Bank has softened its mild tightening stance further. Still, even with GDP growth of barely 1% and core inflation at near-record lows, the Bank is maintaining that the next move in rates will likely be higher. That next move now looks to be very far off however, and we remain comfortable with the call that rates are unlikely to begin moving higher until the second half of 2014