October 29, 2013 / 6:40 PM / in 4 years

Fed talk of tapering good news for Canada: central bank official

A general view of the U.S. Federal Reserve building in Washington, July 31, 2013. REUTERS/Jonathan Ernst

WINNIPEG (Reuters) - The U.S. Federal Reserve’s talk of scaling back its asset purchasing program is good news for Canada because it means the country’s top export market is improving, a Bank of Canada official said on Tuesday.

“The fact that the Fed has started talking about tapering, we see this as something that is very positive because what that means is that the U.S. economy, the fundamentals, are getting stronger.” Bank of Canada Deputy Governor Agathe Cote said after a speech in Winnipeg, Manitoba.

Cote said it was “almost certain” there will be further market volatility over Fed policy in months to come.

Reporting by Rod Nickel; Writing by Louise Egan

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