CBC NEWS-Stephen Poloz says low interest rates may be here to stay
Canadians can expect to enjoy relatively cheap borrowing costs for some time to come- even after the economy returns to full capacity and the Bank of Canada starts hiking interest rates, bank governor Stephen Poloz said Thursday. But the central banker doesn't think sending that message means people will go on sprending sprees. Poloz says it will likely take until early 2016 before the economy is firing on all cylinders and inflation is back to two per cent. But even when it does Canadians shouldn't expect a sudden increase in interest rates to fight inflation, he told a business group in Saskatoon on Thursday.