Canada's central bank held its key interest rate at 1% and restated its weak hawkish bias, saying that borrowing costs will likely go up after "a period of time," in the final policy decision under outgoing Governor Mark Carney Wednesday.
Citing economic slack, a tame inflation outlook and "constructive evolution" of household sector imbalances--code for slowing debt growth--the Bank of Canada's rate statement said the "considerable monetary policy stimulus currently in place will likely remain appropriate for a period of time, after which some modest withdrawal will likely be required, consistent with achieving the 2% inflation target," in language identical to the last one April on 17.
The decision was in line with the views of economists at primary government securities dealers polled by Dow Jones.
Mr. Carney's, who will become governor of the Bank of England in July, leaves his current job Saturday. His successor, Stephen Poloz, takes over Monday.
Write to Nirmala Menon at nirmala.menon@dowjones.com
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