BoC's Lane: Data show growth in Canada is becoming more broadly based, self-sustaining

Timothy Lane, Deputy Governor of the Bank of Canada, delivered his prepared remarks before the Saskatoon Regional Economic Development Authority, with key headlines (via Reuters) found below:

• Economic data show growth in Canada is becoming more broadly based, self-sustaining
• We will be paying close attention to how economy responds to higher interest rates, stronger c$
• Seeing widespread strength in business investment, exports, along with global economic expansion
• Possibility of material protectionist shift, particularly on possible changes to NAFTA, is key source of uncertainty for Canada's economic outlook
• Trade negotiation outcomes could have implications for economy, which we would need to consider in conducting monetary policy
• Given complexity of effects of material changes, we cannot adjust monetary policy in anticipation of these risks
• We will be watching trade developments and implications for exports, business investment very closely
• Canada's openness to international trade is important determinant of economic growth potential
• If trading rules are changed in way that undermines economic benefits, result would be lost external demand for exports, lower potential growth for Canada, trading partners