BoC's Lane: Cheap oil could make some production uneconomical

Wed Mar 25, 2015 3:47pm EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

KELOWNA, British Columbia, March 25 (Reuters) - Persistently low oil prices could make some Canadian production uneconomical, while the sharp drop in crude prices will weigh on the economy, Bank of Canada Deputy Governor Tim Lane said on Wednesday.

The improving U.S. economy will help boost Canada's exports, though overall growth will slow this year before returning to potential, Lane said in a presentation posted on the central bank's website. (Reporting by Nicole Mordant; Writing by Leah Schnurr; Editing by Leslie Adler)