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TORONTO — An improvement in the U.S. economy this year would be a boon for Canada — and that could push the central bank to raise interest rates before the end of the year.

A global outlook from Royal Bank predicts that the Bank of Canada will boost rates by as much as half a percentage point.

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Mark Chandler, head of fixed income and currency strategy at RBC Capital Markets, said Thursday in a conference call that the move would hinge on Canadian economic growth keeping its momentum, rather than slowing as it did in late 2012.

“The Bank of Canada should be the only major central bank to actually make the move to tighten this year,” he said.

“We’re looking for 50 basis points in aggregate tightening skewed toward late this year.”

Economists have been divided over whether the central bank will boost rates this year or in early 2014. Bank of Montreal deputy chief economist Doug Porter expects the BoC to keep interest rates on hold for the year, while a report from TD Bank targets the overnight rate to climb half a percentage point in the fourth quarter.