August 27, 2013 / 6:04 PM / in 5 years

Bank of Canada says recent volatility not historically unusual

KINGSTON, Ontario (Reuters) - Recent volatility in some markets around the world is not historically abnormal, Bank of Canada Deputy Governor John Murray said on Tuesday.

A Bay Street sign, a symbol of Canada's economic markets and where main financial institutions are located, is seen in Toronto, May 1, 2013. REUTERS/Mark Blinch

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.

Reporting by Louise Egan; Writing by Randall Palmer; Editing by Jeffrey Hodgson

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