Bloomberg: Bank of Canada Warns on ‘Vicious Circle’ of Weak Productivity
Canada is “stuck in a vicious circle” of weak productivity, says Bank of Canada Deputy Governor Nicolas Vincent. “Canada’s affordability problem is really a productivity problem.” The country needs to attract investment, fix the regulatory framework and tax system, upgrade infrastructure, reduce interprovincial trade barriers and expand its trade market away from the U.S., he said, adding, “Businesses in Canada have been investing too little for too long” and that’s “one of the main reasons for the country’s poor productivity.”
