|
A
healthy U.S. economy is sure to benefit Canada because of the
close trading relationship between the neighbors, Morneau told
Reuters in an interview at a Group of Seven (G7) finance meeting
in Sendai, in Japan.
Canada is clearly worried about turmoil that could ensue if
Britain were to leave the European Union but had not discussed
specific steps it could take if Britain voted to leave the bloc
next month, Morneau said.
Morneau spoke after the first day of a two-day meeting of top G7
finance officials.
There is concern they will fail to come up with a coordinated
response, that some policymakers have called for, to a phase of
slow growth and disinflation in the global economy.
"The United States is our largest trading partner by a very
significant margin, so the idea that they are considering their
interest rates is something that can only say that their economy
is doing well," Morneau said.
In recent days, Fed officials have sent a consistent message
that interest rate increases are coming soon, which means a rate
rise at the next policy meeting in June is a firm possibility.
Given uncertainty about Britain's June 23 referendum on European
Union membership, some economists have warned that a Fed rate
increase could trigger financial market turmoil.
The Fed's next meeting will be a week before Britain votes.
Morneau said he compiled a budget that focuses on steps to help
the middle class and investment in infrastructure to improve
long-term growth.
He said he saw room for other countries to take a similar
approach.
(Writing by Stanley White; Editing by Robert Birsel)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
