(Bloomberg) -- Slower growth in consumer debt and a cooler housing market will allow the Bank of Canada to wait until early 2015 to raise interest rates as it waits for a pick- up in exports, the International Monetary Fund said.

Inflation should accelerate to reach the central bank’s 2 percent target by the end of 2015 and growth will quicken to 2.25 percent in 2014 from 1.6 percent this year, in line with the bank’s forecast, the IMF said in a statement by its mission team to Canada.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.