Flaherty predicts pressure to raise interest rates
Posted Jan 6, 2014 7:47 am.
This article is more than 5 years old.
Canada’s Finance Minister says the country will be under major pressure in 2014 to raise interest rates.
Jim Flaherty says it comes as the U.S begins to move away from their “quantitative easing” policy and their economy gets a boost.
It’s a stark contrast from what Bank of Canada Governor Stephen Poloz has said that interest rates won’t be changing for awhile.
The Globe and Mail reports, Flaherty believes the pressure will be there as the U.S. stops printing money and stops generating billions to purchase financial assets every month.
But he says the decision is ultimately left to the Bank of Canada.
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