The Canadian Press

2010-06-01 | Interest Rates

Preview Clip

After three years of an ever-increasing stimulative monetary policy, the Bank of Canada reversed course June 1st and raised its trend-setting interest rate a quarter point to 0.5 per cent. Some analysts felt the move was the beginning of what would be a string of incremental rate hikes. Sal Guatieri (GWAH'-tee-air-ee), senior economist at BMO Capital Markets, said the central bank edged up its rates because the economy was growing much faster than expected. (The Central Bank held off on further increases amid a slowing economic recovery.)

Date: 2010-06-01
Placeline: TORONTO, Ontario.
Source: The Canadian Press
Length: 22 seconds

Transcript Prediction: << Canada is greatly outperformed just in the past two quarters that we have averaged five and a half percent GDP growth and the Really outstanding performances on The Domestic side of the economy where final domestic demand has risen at an average rate of 5% in the last 3 quarters that's well above the growth rate in the US and even more so when compared to Europe >>