Economy doing "quite well": BoC's Carney

Fri Jun 20, 2008 3:38pm EDT
 
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CALGARY (Reuters) - Canada's economy as a whole is doing "quite well" because it is diversified, helping offset weakness in the manufacturing sector, Bank of Canada Governor Mark Carney said on Thursday.

"We have had a very difficult adjustment in the manufacturing sector, unquestionably," Carney said when asked how the central bank set policy for a country split between a booming resource-based economy in the West and a sickly manufacturing base in the central region.

"We set policy for the country. The country is diversified and the country is doing quite well."

(Reporting by Jeff Jones; Writing by Louise Egan; Editing by Frank McGurty)

 
<p>Bank of Canada Governor Mark Carney waits to testify before the Commons finance committee on Parliament Hill in Ottawa April 30, 2008. REUTERS/Chris Wattie</p>