Canada says economic growth will accelerate in the second half of the year

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      Bank of Canada President Poloz said on Tuesday that although the Canadian economy is currently facing some resistance, there are good reasons to believe that economic growth will accelerate in the second half of this year.

Poloz reiterated in the House of Commons Financial Committee that he believes that it is still necessary to adopt an easing policy on interest rates.

Last week, the Bank of Canada made it clear that it is not considering raising interest rates because the country's economy is struggling to cope with falling oil prices, weak household spending and the impact of global trade conflicts.
He said: "The Canadian economy is currently facing some unfavorable factors, but we have every reason to believe that the Canadian economy will accelerate growth in the second half of this year."

“With the release of new data, we will continue to assess the appropriateness of loose monetary policy. We are particularly concerned about the development of household spending, oil markets and global trade policies.”


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