Bank of Canada says recent volatility not historically unusual

Tue Aug 27, 2013 1:57pm EDT
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KINGSTON, Ontario Aug 27 (Reuters) - Recent volatility in some markets around the world is not historically abnormal, Bank of Canada Deputy Governor John Murray said on Tuesday.

Answering questions after a speech in which he rebutted critics of plans by the U.S. Federal Reserve to taper its massive bond buying, Murray said recent volatility in some asset markets was just returning to historical average volatility.

He said there was no guarantee an exit from unconventional policy would be absolutely orderly or painless for everyone, but at least it would be in the context of recovery.