Bank of Canada cuts growth forecast for 2005

The Bank of Canada released its April 2005 Monetary Policy Report on 14 April. In the report the Bank lowered its growth forecast for the Canadian economy for 2005, cutting its estimate to 2.6 per cent.

``The past appreciation of the Canadian dollar is expected to continue to dampen the growth of Canada's exports and to boost import growth,'' the bank said in its quarterly Monetary Policy Report.

"The global economy has been unfolding largely as expected and prospects for continued robust grow