November 24, 2015 / 10:45 PM / 2 years ago

Bank of Canada's Patterson: Canada is rebounding

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.

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

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

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