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weamp;#39;re listening right now to Bank of covor uh Canada Governor Steven POA heamp;#39;s speaking the media following his surprise move to cut interest rates weamp;#39;ll listen in live considerable uncertainty around the outlook for oil prices and the implications for the economy my goodness having trou we get this a piece of paper apart excuse me there we go however every credible scenario for oil left us with a docHub issue for monetary policy weamp;#39;ve based our analysis on an assumption for oil prices of about $60 per barrel for the next two years although this is above current levels prices seem likely to move back above $60 in the medium term the drop in oil prices is unambiguously negative for the Canadian economy Canadaamp;#39;s income from oil exports will be reduced and investment and employment the energy sector are already being cut there will be some offsets but they are both partial and of Uncertain timing first Canadian consumers will spend less on energ