November 21, 2012 / 4:33 PM / in 5 years

Bank of Canada repeats rate hike likely needed over time

OTTAWA, Nov 21 (Reuters) - Bank of Canada Deputy Governor Tim Lane repeated on Wednesday the central bank’s message that rate hikes will likely be needed over time.

“Over time, some gradual withdrawal of monetary policy stimulus will likely be required, consistent with achieving the inflation-control target,” he said in a prepared presentation he was giving on Wednesday in Moncton, New Brunswick.

Another part of the presentation noted that: “The Canadian economy continues to operate with a small amount of excess supply.”

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