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Bank of Canada's Poloz: rate cuts have largely done their work
June 13, 2017 / 1:05 PM / 5 months ago

Bank of Canada's Poloz: rate cuts have largely done their work

OTTAWA, June 13 (Reuters) - The interest rates cuts the Bank of Canada took in 2015 have largely done their job as the economy appears to be gathering momentum, the head of the central bank said on Tuesday.

With the economic recovery from the oil price shock appearing to be widening, “What that suggests to us is that the interest rate cuts we put in place in 2015 have largely done their work,” Governor Stephen Poloz said in an interview with CBC Radio. (Reporting by Leah Schnurr; Editing by Chizu Nomiyama)

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