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Morneau Won't Budge on Deficits Despite Canada's Red-Hot Growth

  • Loonie rises after minister sees ‘success’ at current level
  • Bloomberg hosts Canadian fixed-income conference in New York
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Morneau Says Canada Can Do Well With Higher Dollar

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Canada’s hot economy won’t push Bill Morneau off his deficit spending plans, with the finance minister pledging continued cash for infrastructure and other programs to make the nation’s expansion sustainable in the long-term.

Morneau, speaking Tuesday to the Bloomberg Canadian Fixed Income conference in New York, struck an upbeat tone about the resiliency of the country’s economy -- saying it can withstand a higher dollar while expressing optimism over risks such as rising interest rates and U.S. trade talks.