Canada's struggling economy still needs the extra boost of monetary stimulus to help keep the recovery on track, and it might take longer than expected to get there, Bank of Canada senior deputy governor Carolyn Wilkins said Monday.
TD, like the Bank of Canada and a consensus of economists, is estimating growth will rebound to about 2.3 per cent in 2014. That would follow two years of sub-par growth at 1.7 per cent in 2012 and an estimated 1.7 per cent growth this year.
Five years after a global financial crisis erupted, the world's biggest economies still need to be propped up. They're growing and hiring a little faster and creating more jobs, but only with extraordinary aid from central banks or government spending.