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Bank of Canada Rate Hike Pegged to ‘Shallow’ Alberta Recovery

  • Poloz is widely expected to begin tightening this week
  • Energy-rich western province is barely out of deep recession
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Canada Rate Hike Pegged to 'Shallow' Alberta Recovery

It’s not exactly a full-fledged recovery, but economic indicators are finally pointing positive for Alberta’s economy and that seems to be enough for the Bank of Canada.

The central bank, spurred on by the first signs of a rebound in the country’s main oil producing province, is widely expected to raise interest rates as early as Wednesday. That will probably be followed by another increase later this year.