Varcoe: Bank of Canada governor says country can benefit from lessons of TMX and LNG Canada to boost economy

Bank of Canada governor Tiff Macklem has a couple of potential tonics for the tariff turbulence in the economy, aiming to find ways to bolster productivity and competitiveness in the country.

And he points to the Trans Mountain expansion (TMX) project and LNG Canada startup as recent developments that are making a difference in the country by growing and diversifying our exports.

“Two examples that I think are having a material impact on the Canadian economy — the TMX pipeline expansion and the first shipment of LNG Canada on July 1 — these are macro significant for the country,” Macklem said in an interview.

“They are increasing our ability to get our energy overseas. And they also mean we’re getting a better price for our product because we’re not as dependent on a single U.S. market.