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Bank of Canada: degree of untapped potential remains in economy

Reuters  |  KINGSTON, Ontario 

By David LjunggrenKINGSTON, Ontario (Reuters) - A degree of untapped potential remains in the Canadian labor market meaning the economy may be able to generate more growth without higher inflation, the head of the Bank of Canada said on Tuesday, suggesting the central bank can take its time raising interest rates.While rates are likely to move higher over time, Bank of Canada Governor Stephen Poloz said, the central bank cannot take a mechanical approach as policymakers cannot know in advance how far the capacity-building process can go but have an obligation to let it occur.Although the ...

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First Published: Tue, March 13 2018. 21:40 IST