OTTAWA, April 23 (Reuters) - Bank of Canada Governor Stephen Poloz on Monday gave an upbeat assessment of the economy’s prospects after a sluggish first quarter and said that while inflation would rise above the central bank’s target this year, it would be temporary.
In testimony to the House of Commons Finance Committee, Poloz reiterated that higher interest rates would likely be warranted over time, but that some policy accommodation is still required to keep inflation on track. (Reporting by Andrea Hopkins and Fergal Smith Editing by James Dalgleish)