Bank of Canada governor Stephen Poloz has given a strong hint that there will be no further interest rate cut in the near future. Speaking in New York Mr Poloz said that the January cut of 0.25 per cent seems to have done the job the bank wanted; insuring against the oil price slide. With oil prices holding more steadily for now it is looking unlikely that there will be a reduction from the 0.75 per cent current rate. The governor also said he expected a bounce back in the economy in the second quarter after a weak start to the year.
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