October 24, 2016 / 8:22 PM / 2 years ago

Bank of Canada: rate cut would bring unconventional tools closer

OTTAWA, Oct 24 (Reuters) - A further easing from the Bank of Canada would bring the central bank closer to unconventional monetary policy and the decision on whether to cut rates again is not one to take lightly, Governor Stephen Poloz said on Monday.

Taking questions from lawmakers, Poloz also said that there were ingredients of a possible divergence between Canada and the United States, both economically and from a monetary policy standpoint. Some expect the U.S. Federal Reserve may raise rates before the end of the year, while the Bank of Canada is widely expected to stay on the sidelines until into 2018.

Reporting by Leah Schnurr; editing by Diane Craft

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