March 6, 2014 / 5:34 PM / in 4 years

Bank of Canada cautious on January inflation pickup

The Bank of Canada building is pictured in Ottawa June 1, 2010. REUTERS/Chris Wattie

VICTORIA, British Columbia (Reuters) - The Bank of Canada cautioned on Thursday against declaring an end to the problem of below-target inflation in the country just because the inflation rate picked up in January to the highest in 1-1/2 years.

Answering questions from the audience following a speech, Murray also repeated the central bank’s view that Canadian inflation and growth will gradually pick up over the next two years.

He cited signs that fiscal headwinds in the United States were dissipating and growth in China, while weaker than before, is still healthy, among other reasons for optimism.

Reporting by Jennifer Kwan; Writing by Louise Egan; Editing by Chizu Nomiyama

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