Bank of Canada holds rates steady as signs of recovery emerge
The Bank of Canada said that household spending and a weaker currency are the leading recovery out of the effects of a struggling oil sector.
The Bank of Canada said that household spending and a weaker currency are the leading recovery out of the effects of a struggling oil sector.
A two-month gain in exports since 2011 and creation of 193,300 jobs in the last 12 months are the reasons why we are showing signs of recovery.
Canada’s lower dollar is helping the world’s 11th largest economy adjust to the drop in commodity prices. More recent questions about the global economy linked to signs of slower growth in China, the central bank said. “While the overall export picture is still uncertain, the latest data confirm that exchange rate-sensitive exports are regaining momentum.”
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