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In a rapidly evolving economy, the Bank of Canada’s quarterly updates are starting to look distinctly inadequate.
In a rapidly evolving economy, the Bank of Canada’s quarterly updates are starting to look distinctly inadequate.
(CHRIS WATTIE/REUTERS)

Bank of Canada needs to get with the times

The Bank of Canada was already caught behind the times – or perhaps, in its thinking, between the times – once this year. It may be happening again.

In the central bank’s regularly scheduled interest-rate statement released Wednesday morning (something it does eight times a year), it acknowledged, remarkably briefly, that the Canadian economy enjoyed “strong growth” in the second quarter.