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Carney Keeps Canada’s Higher-Rate Bias on Faster 2013
Bank of Canada Governor Mark Carney kept his bias to raise interest rates, saying economic growth will accelerate next year after temporary disruptions in energy output and weak global demand curbed the expansion. The benchmark rate on overnight loans between commercial banks remained 1 percent, where it’s been for more than two years, and policy makers said a “small degree of slack” in the economy will gradually disappear, bringing inflation to the 2 percent target over the next 12 months. Today’s decision was expected by all 26 economists in a Bloomberg News survey. “Over time, some modest withdrawal of ... (full story)
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Inflation in things we need, Deflation in things we want.
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