Marks second time in less than a week Poloz has made clear current record low interest rates were unlikely to increase any time soon
OTTAWA — The Bank of Canada’s policy framework is flexible enough to allow the inflation rate to climb back up to the bank’s 2 per cent target more slowly than on average, Governor Stephen Poloz said on Monday.
Canada’s annual inflation rate in April turned negative for the first time since 2009, pulled down by the coronavirus pandemic and low oil prices. In a video address to the University of Alberta, Poloz said the bank could let inflation rise “more slowly or quickly than on average.”
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