Leduc in Sherbrooke, QC
- Canadian growth should still exceed potential
- BOC has seen a surprising drop in firm creation since the 1980s
- Expects an increase in entry rates, a decline in business exits
- CAD drop may have helped growth in 'gazelle' firms (fast-growing firms)
- Potential growth estimated at 1.5%
"The sharp depreciation of the Canadian dollar following the drop in oil prices may have contributed to the growth of gazelles by facilitating access to external markets and increasing the benefits of greater economies of scale," he said.
No direct comments on interest rates or monetary policy but it is slightly dovish in the longer term because it highlights some of the headwinds.
