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BoC’s dep’ Governor,   Lynn Patterson, is crossing the wires now.

“I’m happy to be here to give you an update on the Canadian economy and discuss the decision we made yesterday to keep our key policy interest rate unchanged,” …

“This decision hinged on a number of factors. One was the slowing momentum in the global economy. It is increasingly clear that ongoing trade tensions and associated uncertainties are having an impact. I’m sure many of you here in Hamilton can relate to that as you deal with the steel tariffs.”

“Another factor was the performance of the Canadian economy in the fourth quarter of 2018. While we had been anticipating a slowdown, coming primarily from the oil sector, it was sharper and more broad-based than expected. This is despite strong employment and labour income growth and core measures of inflation that have continued to hover near 2 per cent.”

Full speech delivered at  Hamilton Chamber of Commerce, Hamilton, Ontario:

Economic Progress Report: Sensible Shifts in Household Spending

About  Lynn Patterson  

Lynn Patterson  was appointed Deputy Governor, effective May 2014. s a member of the Bank’s Governing Council, she shares responsibility for decisions with respect to monetary policy and financial system stability, and for setting the strategic direction of the Bank.