Canada works due to its critical foundational advantages, says Bank of Canada Governor Mark Carney

May 22, 2013

The following is excerpted from a 21 May 2013 press release by the Bank of Canada.

Since the eruption of the global financial crisis, Canada has outperformed other G-7 countries because of critical foundational advantages, Bank of Canada Governor Mark Carney said today in a speech in Montréal. The Governor identified “the cornerstones of Canada’s prosperity” as responsible fiscal policy, sound monetary policy, a resilient financial system and a monetary union that works.

“The structure of the Canadian economy, the risk sharing across the federation, labour market flexibility and financial stability together meant that Canada could adjust quickly to the shock of the global financial crisis,” Governor Carney said. “It also meant that when Canadian policy-makers responded, they were able to do so swiftly and massively.”

This release is available in its entirety at:
http://www.bankofcanada.ca/2013/05/press-releases/canada-works-due-critical-foundational-advantages/

Topic(s)

International Trade and Border Management

Information source

Canadian News Channel

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