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Bank of Canada sees encouraging economic scene despite forecasts

Published 2015-10-10, 05:05 p/m
© Reuters. Bank of Canada sees encouraging economic scene despite forecasts

LIMA, Oct 10 (Reuters) - Bank of Canada Governor Stephen
Poloz painted a reasonably cheery picture on Saturday of the
Canadian and global economic outlook despite some downgraded
forecasts and concerns about China.
He said it was "maybe an overstatement" to characterize as
gloomy the forecasts by the International Monetary Fund (IMF)
and the talk about them at the annual meetings in Peru of the
IMF and the World Bank.
And in Canada, he described confidence needed for business
investment as building.
"As we said in July, certain elements of that appear to be
coming together in the Canadian economy," he told three Canadian
reporters attending the IMF meetings.
He made his remarks shortly before the start of the central
bank's self-imposed blackout period for communications ahead of
the Oct 21 release of its interest rate decision and quarterly
Monetary Policy Report.
Poloz did not update the central bank's forecasts on
Saturday but appeared sanguine about prospects both in his
country and around the world.
"There are enough things that are on track that it still
remains an encouraging global picture," he said.

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