HIGHLIGHTS-Bank of Canada's Carney speaks in London, Ontario

Mon Feb 25, 2013 1:58pm EST
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Feb 25 (Reuters) - Below are key quotes from an appearance by Bank of Canada Governor Mark Carney:


"The Bank's forecast, if you look at it on a like-for-like basis, relative to consensus ... if you look at when our forecast came out, versus where consensus was, we're slightly above, we're about 0.3 above, on average over last year on growth ... if I had to pick one element, which explains that, I would say the external side, it's the export side ... the export performance has been lower on average than we had expected. Now that's not the whole story. There's a few other elements there. But if I wanted to restrict it down one to thing, I would do there."


"We saw ... in the second half of the year last year particularly weak export growth ... so there's still this competitiveness element there."

"As (housing) growth is coming off ... it needs to be replaced. And the pickup needs to come from business investment. We see good intentions. There's good balance sheets, we're seeing some signs on the corporate borrowing side, some of the global uncertainty has come down, so we should see some activity there. So we have expectations of solid business investment (and) we stick by those. Maybe a little tougher is on the export side, where we haven't seen that pickup there."