Bank of Canada felt that it would have to protect the economy from the impact of falling oil producer prices. The Canadian Fed Government alone is expected to lose $ 4.3 billion because of oil prices drop.
The Bank expects a deceleration: the bank slashed its GDP growth forecast to 2.1 per cent this year (from 2.4 per cent). So it had to ensure that it keeps pace
http://www.theglobeandmail.com/report-on-business/oil-slide-to-shave-billions-off-federal-and-provincial-government-revenue/article22543445/
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