Carney Defends Approach To Interest Rates

Posted on February 24/2012 by

OTTAWA — Bank of Canada governor Mark Carney is defending the way the central bank sets interest rates, noting that it can be used to address a wide range of situations. In a speech in New York, Carney said Friday that low interest rates over a prolonged period of time can cloud financial judgments and prompt companies and people to carry too much debt for too long. But, he said the central bank's framework allows for flexibility to address the concerns.

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