The Bank of Canada is unlikely to change interest rates in 2013, particularly with inflation so low, according to Scotiabank’s head economist.
“Under the current forecast, we don’t see interest rates in this country changing at all over the next year or so,” said Warren Jestin, chief economist at Scotiabank.
“Inflation is going nowhere fast. We may see some inflation in food prices or other areas but by and large the economy is too soft to generate inflation. There is no cost push in place.”