Canadian economy to grow through 2010

The deterioration in economic and financial conditions in the United States will have direct consequences for the Canadian economy, the Bank of Canada said in May. Nevertheless, domestic demand is projected to remain strong, supported by firm commodity prices, high employment levels, and the effect of the cumulative easing in monetary policy. The Bank projects that the Canadian economy will grow by 1.4 per cent this year, 2.4 per cent in 2009, and 3.3 per& cent in 2010. The emergence of excess supply in the economy should keep inflation below 2 per cent through 2009.

Stephen George

Stephen George

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