February 25, 2011 / 6:22 PM / in 7 years

Canada not concerned over oil effects on inflation

HALIFAX, Nova Scotia (Reuters) - There is little concern about long-term inflationary pressures in Canada arising from turmoil in Libya and Middle East countries, Finance Minister Jim Flaherty said on Friday.

“We watching what’s going on in the oil markets. I don’t think there’s reason now to have any strong concerns about any long-term effects,” Flaherty told reporters following a speech.

“We’ll have to watch and see if there’s any significant interruption in supply. If there is, whether that interruption in supply is made up by others.”

Reporting by Richard Woodbury; Writing by Louise Egan; editing by Peter Galloway

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