SUBSCRIBE TO OUR FREE NEWSLETTER
PUBLISHED |

Canada's economy on the rebound

Canada's economy on the rebound article image
The Bank of Canada, the country's central bank, has issued a positive outlook for the next quarter of the North American nation's economy with the worst-case scenario "taken off the table" according to the bank's governor Mark Carney. The official forecast, issued late last week, shows that the bank expects Canada to recover from its recession this September quarter, at least three months earlier than initial predictions. Carney confirmed that Canada was "on track for the recovery" but also warned that it was still early days: "I mean, it's a long road." Unemployment and the strength of the Canadian dollar will be two aspects the bank will track closely. Carney also said keeping the interest rate at 0.25 percent until mid-2010 would also be instrumental.

Tags

Leave A Comment

Spinning icon Saving your comment, please wait...
Spinning icon Saving your comment, please wait...