Stimulus measures starting to work: BoC

Fri Apr 24, 2009 7:59am EDT
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TORONTO (Reuters) - Canadian government and central bank attempts to stimulate the sagging Canadian economy are starting to take effect and will reach full force sometime next year, Bank of Canada Governor Mark Carney said on Friday.

"The stimulus measures that the government are putting in place are starting to take effect and they'll build over the balance of this year and into next year," Carney said during an interview with CTV.

"The big interest rate cuts that the Bank of Canada has delivered in recent months will have an impact starting now but really reach full force in 2010, and both of those factors are going to give a big kick to growth."

(Reporting by Frank Pingue; Editing by Jeffrey Hodgson)

<p>Bank of Canada Governor Mark Carney leaves his office for a news conference upon the release of the Monetary Policy Report in Ottawa in this October 23, 2008 file photo. REUTERS/Chris Wattie</p>