TMX Industry Prof Cooper gives 2015 economic forecast

Canadian economist and TMX Industry Professor Sherry Cooper shared her thoughts on the upcoming economic year at a recent event hosted by the DeGroote School of Business.

The School’s Business Writer-in-Residence, former Globe and Mail journalist Gordon Pitts, interviewed Cooper in Toronto.

Cooper was not particularly confident in the ability of the Canadian economy to quickly recover from recent declines in oil prices.

She did, however, have praise for the Bank of Canada.

“I applaud what the Bank of Canada has done,” she said. “I think it sends the right message: they’re there, and they’ll do whatever it takes.”

Cooper said the real question the economy will face in 2015 is whether or not exporters outside the oil patch will take advantage of a weaker Canadian dollar and lower interest rates.

“Most of the provinces will see stronger growth this year compared to last,” she said. “But for the country as a whole, we’ll be lucky to see one and a half to two per cent growth.”