Bank of Canada's Lane reiterates economic challenges

Thu Sep 8, 2016 12:27pm EDT
 
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THUNDER BAY, Ontario, Sept 8 (Reuters) - Canada's economy is still running on two speeds, with household spending growth holding up even as commodity prices remain low and the job market continues to recover, Bank of Canada Deputy Governor Timothy Lane said on Thursday.

Reiterating the bank's cautious take on Canada's tepid economy a day after the central bank struck a dovish tone as it held interest rates steady, Lane said more new U.S. firms are starting up and jobs are being created, but noted investment in Canada's key energy sector has shrunk rapidly. (Reporting by Andrea Hopkins)