IMF forecasts higher growth for Canada in 2014

Posted by Ravi Gulati | Posted in Economy & Markets | Posted on 28-11-2013

The Canadian economy is poised to pick up steam in 2014 as the U.S. continues to recover, but with inflation still tame, the Bank of Canada should hold off on bumping up interest rates, the International Monetary Fund said Wednesday.

Meanwhile, elevated house prices and household debt levels remain a concern.

The IMF also said that Ottawa should consider scaling back the mortgage insurance program it delivers through the Canada Mortgage and Housing Corp.

Growth in the Canadian economy could reach 2.25 per cent in 2014 after remaining modest this year, the IMF noted in its latest report card on Canada.

IMF forecasts higher growth for Canada in 2014 | Toronto Star.