May 1, 2008 / 5:35 PM / in 10 years

BoC says doesn't put much emphasis on weak GDP data

OTTAWA (Reuters) - Bank of Canada Governor Mark Carney said on Thursday he does not put too much emphasis on data released earlier this week that showed an unexpected drop in February gross domestic product.

Carney, speaking to reporters after answering questions from the Senate banking committee, said he still sees economic momentum picking up in the second half of 2008.

Earlier this week, data showed Canada’s economy shrank 0.2 percent in February, missing estimates for a 0.2 percent gain and cementing predictions that the Bank of Canada will lower its key interest rate by 25 basis points in June.

Reporting by Frank Pingue; Editing by Peter Galloway

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