BoC not in a rush to slow down economy –
DLC’s Cooper
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by Ephraim Vecina
08 Dec 2017
The Bank of Canada’s latest decision to hold overnight
interest rates at 1.0% should come as no surprise, amid an
ongoing slack in employment numbers and short-live rises in
ination.
This is reective
of the Bank’s seeming absence of haste in
slowing down the economy, according to Dominion Lending
Centres chief economist Dr. Sherry Cooper.
Read more: Higher rates might make 5-year mortgages
popular once more
12/8/2017 BoC not in a rush to slow down economy – DLC’s Cooper
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“Third-quarter GDP growth … was in line with the Bank’s
expectations at 1.7%. Canadian growth was expected to
slow in Q3 while remaining above potential in the second
half of this year,” Cooper wrote in her latest analysis.
“Consumer spending has remained very strong, and
business investment and public infrastructure spending are
contributing to growth. The Q3 sharp decline in exports is
expected to be temporary.”
Cooper noted that the decision stemmed from a pronounced
caution on the BoC’s part, amid considerable uncertainty in
geopolitics and trade policies. This is despite the Bank citing
buoyant global growth, higher oil prices, and eased nancial
conditions as net positives that have characterized the
economy recently.
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