OTTAWA - The Canadian economy remains resilient despite the global uncertainty caused by the trade war between the United States and China, a senior Bank of Canada official said Thursday. In a speech to the Ottawa Board of Trade, deputy governor Timothy Lane said inflation in Canada remains on target and a strong job market points to sources of growth. However, Lane said there is no reason for the Bank of Canada to move in step with the U.S. Federal Reserve. Lane said the resilience in the economy here at home has allowed the central bank to chart its own course. TD Bank senior economist Brian DePratto said the Bank of Canada sounds like it does not want to cut rates unless absolutely needed.

Source: thestar December 05, 2019 13:07 UTC