Bank of Canada deputy governor says exports and business investment broadening
SASKATOON — A senior Bank of Canada official said Monday the central bank is seeing encouraging signs that exports and business investment are broadening and strengthening.
In a speech to the Saskatoon Regional Development Authority, deputy governor Timothy Lane said international trade is key to Canada’s economic growth potential.
However, he cautioned the central bank is also keeping close tabs on the rise in protectionist sentiment in some parts of the world and what it might mean for the Canadian economy.
Lane noted that populist movements in some of Canada’s major trading partners are demanding new trade barriers and that such protectionist measures would undoubtedly mean less trade which would reduce economic growth.