08 September 2010 14:43 [Source: ICIS news]
The Bank of Canada said Canadian consumption was expected to remain solid and business investment would rise strongly.
However, it acknowledged that second-quarter GDP growth was weaker than it had anticipated.
“As a result of monetary policy measures taken since April, financial conditions in
“Any further reduction in monetary policy stimulus would need to be carefully considered in light of the unusual uncertainty surrounding the outlook,” it added.
The global economic recovery was proceeding but remained uneven, balancing strong activity in emerging market economies with weak growth in some advanced economies, the bank said.
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