7 September 2001, 11:42  Canada is unlikely to need further interest rate cuts

to spur its economy, even though the recent downturn has been more pronounced than expected, as economic activity is expected to accelerate in the second half of this year and into 2002, according to a report released Thursday. "Given the probable re-emergence of some excess supply in the economy, the recent easing in monetary policy has been appropriate," the Organization of Economic Cooperation and Development said in its economic survey of Canada.

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