October 30, 2018 / 7:54 PM / a year ago

Bank of Canada: monetary policy still stimulative, rates need to go up

OTTAWA, Oct 30 (Reuters) - Monetary policy in Canada is still stimulative despite an increase in interest rates last week and more hikes will be needed to achieve the Bank of Canada’s inflation target, the central bank’s chief said on Tuesday.

“The appropriate pace of increases will depend on our assessment at each fixed announcement date of how the outlook for inflation and related risks are evolving,” Governor Stephen Poloz told the House of Commons finance committee. (Reporting by David Ljunggren and Steve Scherer; Editing by Tom Brown)

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