BoC suggests interest rates won’t be cut

The Bank of Canada said Monday that a reliance on monetary policy to stimulate the economy may not be the best way forward. Deputy governor Timothy Lane was speaking at a conference in Montreal and warned that using instruments such as lowering interest rates could lead to a less stable economy with increasing consumer debt. Mr Lane said that a balance between monetary policy and government spending could be the best answer, as long as public debt was not allowed to get out of control.

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