Source: The Canadian Press, February 6, 2019
OTTAWA — A Bank of Canada deputy governor says the effects of U.S. trade unknowns, lower oil prices and weaker housing and consumer spending are behind the recent deceleration in economic growth.
In prepared remarks of a speech today in Washington, Timothy Lane says this slowdown in Canada’s economic expansion is temporary.
Lane says these factors along with the fiscal stimulus that has energized the American economy and, as a result, led the U.S. Federal Reserve to raise interest rates have been putting downward pressure on the Canadian dollar.
Image Source: THE CANADIAN PRESS/Sean Kilpatrick
