The forecast for the next Bank of Canada interest rate hike was pushed back to the 3rd quarter of 2012 based on a recent Reuters poll of 40 economists and strategist in August 2011. This was based on slow global growth and the risk that Europe's debt crisis will linger on, according to the Reuters survey released on Tuesday.
Analysts said Canada's central bank need to raise borrowing costs less than they previously thought, because the domestic economy has not recovered as strongly as expected and the European debt crisis still is dampening the global outlook.
The poll showed a 95 percent probability there won't be a change in rates at the next policy announcement on October 25.
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