Canada might need more than three years to recover from low oil: BoC

It could take Canada's economy more than three years to recover from a shock caused by low oil prices, Bank of Canada Governor Stephen Poloz told the Senate banking committee on Wednesday. The comments were among the most specific the Bank of Canada has made about how long Canada - a major energy exporter - will need to fully adjust to a sharp fall in oil prices that prompted the central bank to cut interest rates twice last year. "We estimate that it's a sort of a three year period while the ne