The Bank of Canada (BoC) Deputy Governor Timothy Lane was out with some comments in the last hour saying that notable economic strengths and on-target inflation mean the domestic economy is resilient, but not immune.
Additional quotes:
“¢ Global economic uncertainty is likely to persist even if the US and China reach a trade deal.
“¢ Global uncertainty is likely to have a lasting effect.
“¢ Damaging effects of trade conflict are only partially offset by easier monetary policy.
“¢ The tone of developments in recent weeks gave the bank more confidence in its October outlook for growth and inflation.
“¢ Canadian employment wage growth data suggest the labor market is continuing to tighten.
“¢ There is no reason for the BoV to move in step with the US Fed when it comes to interest rate moves.
“¢ In hindsight moves in Canada and the US toward balance budgets starting in 2010 were premature.
Share
