Bank of Canada's Patterson: Canada is rebounding

Tue Nov 24, 2015 5:44pm EST
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OTTAWA (Reuters) - Canada's economy is rebounding following a modest contraction in the first half of the year, boosted by non-energy exports and investment, which will help growth to 2-1/2 percent in 2017, Bank of Canada Deputy Governor Lynn Patterson said on Tuesday.

Patterson said Canada was adjusting to the decline in oil and commodity prices with lower borrowing rates and a lower Canadian dollar, and reiterated the growth forecast given by the bank in October.

(Reporting by Leah Schnurr; Editing by Chris Reese)

A woman walks past the Bank of Canada office in Ottawa, Canada July 16, 2015. REUTERS/Chris Wattie