VANCOUVER (Reuters) - It is clear the low Canadian dollar is helping some sectors of the Canadian economy, such as manufacturing, Finance Minister Joe Oliver said on Tuesday, while emphasizing the government does not target a currency exchange rate.
“We don’t as a government determine the level of the dollar. That is a decision related to the Bank of Canada’s responsibilities,” he said.
Speaking to reporters, Oliver also said the government expected first-quarter economic performance to be weak but, like the Bank of Canada, he believed growth would resume and reach 2 percent for 2015.
Reporting by Julie Gordon; Writing by Randall Palmer; Editing by Jeffrey Benkoe