BoC's Lane: Data show growth in Canada is becoming more broadly based, self-sustaining

Eren Sengezer FXStreet

Timothy Lane, Deputy Governor of the Bank of Canada, delivered his prepared remarks before the Saskatoon Regional Economic Development Authority, with key headlines (via Reuters) found below:

Economic data show growth in Canada is becoming more broadly based, self-sustaining
We will be paying close attention to how economy responds to higher interest rates, stronger c$
Seeing widespread strength in business investment, exports, along with global economic expansion
Possibility of material protectionist shift, particularly on possible changes to NAFTA, is key source of uncertainty for Canada's economic outlook
Trade negotiation outcomes could have implications for economy, which we would need to consider in conducting monetary policy
Given complexity of effects of material changes, we cannot adjust monetary policy in anticipation of these risks
We will be watching trade developments and implications for exports, business investment very closely
Canada's openness to international trade is important determinant of economic growth potential
If trading rules are changed in way that undermines economic benefits, result would be lost external demand for exports, lower potential growth for Canada, trading partners

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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