The Bank of Canada’s Governor says Canadians can expect interest rates to stay low even when the economy returns to full capacity.
Stephen Poloz says the economy will likely be in full swing by 2016 and by then a hike in interest rates won’t be needed to keep inflation low.
The bank’s rates haven’t changed since September 2010; keeping the overnight rate at 1 percent.
Poloz says although western Canada’s gross domestic income is roughly seven percent higher than it would be without the recent resource industry boom, all Canadian’s have benefited from the low rates.
