BOC's Patterson: Weaker dollar boosting export competitiveness

Author: Adam Button | Category: Central Banks

Bank of Canada Deputy Patterson:

  • Lower oil prices are good for the global economy but not for Canada
  • Oil price risks appear to be balanced in the near term
  • Oil shock to push aggregate earnings down 2% by mid-2016
  • Adjustment of oil price shock will take longer than 2 years

No real comments on the direction of monetary policy or on the broader economy.

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