Bank of Canada keeps "over time" condition on rate hike

November 22, 2012

The following is excerpted from the 21 November 2012 edition of Reuters Canada.

Bank of Canada Deputy Governor Tim Lane repeated on Wednesday the central bank's message that interest rate increases will likely be needed, but only over time.

The "over time" phrase was introduced in the bank's key guidance in its rate statement on October 23 as a way of signaling that while the next rate move is likely to be up, such a move was less imminent than it had been.

This article is available in its entirety at:
http://ca.reuters.com/article/domesticNews/idCABRE8AK11N20121121

Topic(s)

International Trade and Border Management

Information source

Canadian News Channel

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