Scotiabank economists are stating that Canadians wont have anything to worry about until at least 2016 as far as rates going up. Remarks made by the central banks senior governor earlier in the week, suggest the banks view is now that the economy’s spare capacity may remain into sometime in 2016. They also say that that the economy is unlikely to overshoot into excess demand, so there would be no hurry for the banks to raise rate.
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