The Canadian Press

2015-10-21 | BoC Interest Rate

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The Bank of Canada has lowered its economic growth forecasts for the next two years, while at the same time holding the line on its trend-setting interest rate. Bank governor Stephen Poloz predicts it will take several years for Canada to fully adjust to the environment of cheaper commodity prices. (The central bank today downgraded its previous growth projections for 2016 and 2017, blaming the hits business investment and resource exports have taken from persistently low oil and other commodity prices.)

Date: 2015-10-21
Placeline: OTTAWA.
Source: The Canadian Press
Length: 20 seconds

Transcript Prediction: << so we would measure these in years and so it's an undercurrent that will be in the economy for quite some time but the headline economy though we believe will will show the other 80% of the economy both growing in his normal way but getting an additional boost run this transformation just underneath >>


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