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Deputy Governor Lane’s talk at MITA Global Economic Forecast Conference publicized widely

Deputy Governor Lane’s talk at MITA Global Economic Forecast Conference publicized widely

Feb 05, 2015

On January 13th, the  Deputy Governor of the Bank of Canada Timothy Lane delivered his talk to the Madison International Trade Association (MITA). In a speech called "Drilling Down - Understanding Oil Prices and Their Economic Impact" Lane gave a preview of a coming report on the impact of oil's decline on the Canadian economy,

"The recent movements in oil prices have been dramatic, but they are not random. Once we sort through the different economic forces at play, we see that underlying the recent drop in oil prices is a surge in unconventional oil supply against the backdrop of slower growth of global demand. Over time, higher-cost oil is still likely to be needed to satisfy growing global demand, but prices could go lower, or remain low, for a significant period before those medium-term forces do their work" concluded DG Lane. Following Mr. Lane's address, Michael Gregory, Deputy Chief Economist with BMO Harris, gave his perspective of the US economy and growth opportunities.

The speeches were widely publicized by several news and media sources including Seeking Alpha, a crowd sourced content service for financial markets and Epoch Times, an independent, global news source, headquartered in New York.