The Globe and Mail reports in its Friday edition that with the price of oil falling there are growing questions about whether the Bank of Canada will alter its plans on interest rates (all figures U.S.). The Globe's David Parkinson writes that the price of West Texas Intermediate oil dropped 99 cents to $59.95 a barrel on Thursday. The Canadian dollar sank to a five-year low of 86.6 cents. The Globe says it is widely assumed the BOC will begin raising its policy rate from its current 1 per cent in the second half of next year. Bank of Canada Governor Stephen Poloz last week, however, estimated that oil's slide could shave one-third of a percentage point off economic growth next year. Since he made that estimate, the price of West Texas Intermediate crude has declined another 10 per cent. On Thursday, Mr. Poloz maintained a wait-and-see position on how oil might affect the BOC's thinking. Mr. Poloz said oil's impact on Canada's inflation outlook will be the key factor in determining whether it will alter the BOC's interest-rate timing and direction. "What we will do, in time for our next Monetary Policy Report in January, is assess how all these things are affecting our projected profile for inflation."