Thursday, February 12, 2009

The Bank of Canada lowered the policy rate

RBS is reporting that 2010 will be the year of recovery, let's hope!

The Bank of Canada lowered the policy rate to 1% and issued a dire near-term outlook alongside a relatively upbeat forecast for 2010.

• Recent economic data have been bleak, raising the risk of a severe recession that is likely to see the Bank ease again.

Still, fiscal stimulus and easy monetary policy will likely yield a recovery in the second half of the year.

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A. Mark Argentino
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