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Source: The Canadian Press, December 6, 2018 

The head of the Bank of Canada says the negative impacts of low oil prices that have struck Western Canada will reverberate across the entire national economy.

But governor Stephen Poloz says the sting of weaker crude prices will likely have a smaller impact across Canada than the 2015 oil-price crisis, which contributed at the time to a slight, technical recession.

In prepared notes of his speech today in Toronto, Poloz says oil and gas production now makes up just 3.5 per cent share of Canada’s, compared to six per cent in 2014.

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