BANK OF CANADA SAYS ECONOMY WON'T RECOVER FOR MORE THAN 2 YEARS

Mar 30, 2016

By Dave Woodard

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Canada’s economy will take more than 2 years to recover.

That from the Bank of Canada’s Deputy Governor Lynn Patterson, who says if oil prices remain flat, a new economic balance will take shape over several years.

money

She adds that by 2020, commodities may only account for 40% of exports.

In January, the Bank of Canada forecast about 1.5% growth for 2016, followed by 2.5 % growth in 2017.

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