When the Bank of Canada increased its target for the overnight rate to 4.25% last May, it indicated that the target was going to stay there for some time. The time may be coming soon - CPI core inflation has been above 2% for several months now:
It's unlikely that the Bank will increase interest rates next Tuesday, but it would appear that they can't leave monetary policy on autopilot for much longer.
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fer sure they are fighting the battle of the strong dollar...
Posted by: embutler | April 20, 2007 at 12:30 PM