13 April 2011
Such numbers lead to the following year forecasts: in 2011 the bank expects 2,9% (in January it was 2,4%). The next three quarters will, probably, see slow growth of 2%, 2.7% and 2.7%.
The next year will see quite moderate growth of 2.6%. In January the BoC predicted 2.8%.
With such numbers and forecasts the central bank didn’t say anything about the possible interest rate hike. Although earlier Mark Carney warned that too low rates for too long could lead to high inflation and debt level increases.
Speaking about inflation, the bank doesn’t think that high oil and food prices may cause its rise.
Many economists, like Derek Holt from Scotiabank, believe that the BoC won’t raise interest rates until October.