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April 24, 2014 - Saskatoon, Saskatchewan—Some Canadian sectors and regions are hot and some are not, but all will ultimately reap the benefits of the country’s rich resource endowment, even as some difficult adjustments take place, Bank of Canada Governor Stephen S. Poloz said today in Saskatoon.
Canada has been adjusting to two major economic shocks in recent years, Governor Poloz told members of the Saskatchewan Trade and Export Partnership. One shock is the aftermath of the financial crisis, which lowered global demand, hindering all sectors. The other is a rise in oil prices that benefited the energy sector and prompted a 7 per cent gain in national income, but presented challenges for some exporters.
“Higher oil prices have stimulated oil production in Canada, magnifying the benefits from the improvement in the terms of trade," the Governor said. He noted that Canada’s economy is demonstrating remarkable flexibility in response to the terms-of-trade shock. “While different regions and sectors adjust differently, and while these adjustments can be painful, they allow us to maximize the benefits of our rich energy endowment—and ultimately everyone gets the gift.”
Manufacturers are adjusting to both shocks by streamlining their activities, introducing new products, entering new markets and outsourcing fabrication.
The Governor noted that the Bank's outlook for a sustained recovery in Canada hinges critically on a recovery in exports. “It is crucial that at the same time there is a pickup of momentum in our exports, which we believe will then be followed by a pickup in business investment,” he said, adding that if the export recovery were less than predicted, the output gap will fail to close and inflation will remain below the 2 per cent target.
Given the importance to the economy of manufacturing and, in particular, manufacturing exporters, the Bank of Canada studied 31 subsectors in the non-energy export sector. The analysis has given the Bank a more granular interpretation of the export picture and provides more hope for the recovery of the export sector.
“With Canada’s stronger terms of trade, with our healthy business environment, with our ability to innovate, the future of Canada’s manufacturing sector is bright,” the Governor Poloz said.
Still, the Bank projects that it will take until early 2016 to get underlying inflation back up to 2 per cent and the economy growing at full capacity. "Our economy has room to grow. And, when we do get home, there is a growing consensus that interest rates will still be lower than we were accustomed to in the past," Governor Poloz said.

Simon Fraser
Market Update

Simon Fraser Condos

Altaire by Polygon

Altaire built in 2008/2009 reaches higher then any other condo building in Metro Vancouver offering panoramic views.

Novo I by Intergulf

Novo I built in 2007 known for the amazing sight lines and views from most units and balconies up to 1000 sq ft.

Novo II by Intergulf

Novo II built in 2007 known for the amazing sight lines and views from most units and balconies up to 1000 sq ft.

Aurora by Polygon

Aurora built in 2006 with 103 condos featuring 36 unique floor plans ranging from 715 sq ft to 1500 sq ft.

One University by Millennium

One University built in 2005 is UniverCity's flagship building with luxury homes featuring semi private elevators.

Harmony by Polygon

Harmony built in 2005 was the first condo development at Univercity & as a result offers a unique setting & views.

Serenity Townhomes by Polygon

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The Hub by Liberty Homes

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Verdant by VanCity Enterprises

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Origin by Porte Development

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Nest by Mosaic

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Highland House by Liberty Homes

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Lift by Porte Development

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Altitude by Hungerford Group

Altitude will be a 2 tower development comprising of a 12 and 14 story building with a total of 210 strata units.

CentreBlock by Liberty Homes

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