Senior Deputy Governor Tiff Macklem

Senior deputy governor Tiff Macklem: Senior deputy governor Tiff Macklem said Tuesday that the central bank no longer expects the July-September period to grow at a rate of 3.8 per cent as previously forecast, according to Huffington Post. The Canadian dollar dipped on the news and closed down 0.21 of a cent at 96.85 cents US on Tuesday and OTTAWA - The Bank of Canada has lowered its forecasts for economic growth in the second half of 2013 and possibly for next year, citing a more prudent consumer and an export sector that has yet to fully recover. Instead, the bank says the third quarter will likely show an economy that advanced at a more moderate pace of 2.0 per cent to 2.5 per cent, the same speed it now expects will continue in the fourth quarter. Previously, it had penciled in a 2.5 per cent expansion for the last three months of the year. (www.immigrantscanada.com). As reported in the news.