Canada's Oliver: C$ helping some sectors, sees recovery

Tue Apr 28, 2015 12:50pm EDT
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VANCOUVER (Reuters) - It is clear the low Canadian dollar is helping some sectors of the Canadian economy, such as manufacturing, Finance Minister Joe Oliver said on Tuesday, while emphasizing the government does not target a currency exchange rate.

"We don't as a government determine the level of the dollar. That is a decision related to the Bank of Canada's responsibilities," he said.

Speaking to reporters, Oliver also said the government expected first-quarter economic performance to be weak but, like the Bank of Canada, he believed growth would resume and reach 2 percent for 2015.

(Reporting by Julie Gordon; Writing by Randall Palmer; Editing by Jeffrey Benkoe)

Finance Minister Joe Oliver looks at a reporters button after delivering the federal budget on Parliament Hill in Ottawa April 21, 2015. REUTERS/Patrick Doyle