VANCOUVER—The Canadian economy has made good progress since the plunge in oil prices in 2014, but slack and risks remain, a deputy governor of the Bank of Canada said Tuesday. Lawrence Schembri said recent economic data has been “largely consistent” with the central bank’s outlook for a gradual strengthening in the global economy. “However, uncertainty remains elevated because of prospective policies that put at risk the progress made in recent decades to liberalize trade and foster economic integration,” he said in a prepared text of the speech to the Greater Vancouver Board of Trade. President Donald Trump won the U.S. election with a campaign that denounced free trade deals and called for a border tax, while Britain is set to begin negotiations later this month to leave the European Union. In its most recent monetary policy report, the Bank of Canada warned about the possible consequences for the economy depending on changes to U.S. trade policy.

Source: thestar March 21, 2017 19:30 UTC