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BoC dep gov Patterson: Growth in Canada is picking up above potential

Comments from Lynn Patterson, Bank of Canada Deputy Governor

  • Core and total inflation will converge to 2 pct as output gap closes by mid-2017
  • Growth in Canada is picking up above potential starting in second-half of 2015, led by non-energy exports and investment
  • Canada is adjusting to oil, commodity price decline with lower borrowing rates, lower CAD
  • Oil shock was most intense in first half of year, compounded by temporary factors
  • US recovery gaining traction, boosting Canadian exports
  • Global economy is weaker in 2015 but will rebound in 2016, 2017
  • Real GDP to grow by just over 1 pct this year, rising to 2 pct in 2016, 2-1/2 pct in 2017

Headlines via Reuters

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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