From Epoch Times:
"The Bank of Canada downgraded its economic outlook due to systematic weakness in exports and the short-term impact on the housing market stemming from the federal government’s latest measures in its Oct. 19 interest rate decision and Monetary Policy Report. 'They’ve been claiming the export rebound is just around the corner, but Canada never quite seems to turn that corner,' said Oren Klachkin, Senior Economist at Oxford Economics, in an email to Epoch Times. While Klachkin doesn’t think a rate cut is likely, he says a boost to competitiveness because of a cheaper loonie after a rate cut wouldn’t do much to boost export growth. 'The issue is frail global demand, particularly in the U.S. where business investment is weak. BoC policy can’t do much to address that.'"