BERLIN (Reuters) - There is considerable uncertainty surrounding Canada’s economic outlook and its central bank will consider this in setting monetary policy, Bank of Canada Governor Mark Carney said on Tuesday.
“We are going to set policy appropriate for Canada to achieve a two percent inflation target. There is considerable uncertainty surrounding the outlook and we will carefully consider any further changes to monetary policy,” he said.
Asked about the economic impact of an appreciation in the Canadian dollar, Carney told reporters in Berlin: ”We watch closely developments in the exchange markets.
“We are aware that the combination of renewed weakness in the United States with currency strength will add challenges to the external sector.”
Reporting by Annika Breidthardt and Paul Carrel