February 3, 2016 / 9:50 PM / 3 years ago

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

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

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.

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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