Economic growth has been modest: after a disappointing first half of the year, global economic growth has regained some momentum, led by solid fundamentals in the United States and a modest pickup in emerging markets. The adjustment of the Canadian economy to low commodity prices is well under way. Growth in Canada is supported by fiscal measures, as well as accommodative monetary and financial conditions. New housing finance rules will mitigate household vulnerabilities over time and are expected to slow the housing market.
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