February 3, 2016 / 9:50 PM / in 2 years

Bank of Canada aide: weaker Canadian dollar means stronger non-resource sector

OTTAWA (Reuters) - The depreciation of the Canadian dollar CAD=D4 ultimately means more growth, investment and employment in the non-resource sector, an advisor to Bank of Canada Stephen Poloz said on Wednesday.

A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto January 23, 2015. REUTERS/Mark Blinch

Stephen Murchison, speaking to the Senate committee on banking trade and commerce, also repeated the central bank’s forecast that total inflation would return to almost 2 percent by the end of 2017.

Reporting by Leah Schnurr and David Ljunggren; Editing by James Dalgleish

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