John Murray: Transitioning to more balanced and sustainable growth Remarks by Mr John Murray, Deputy Governor of the Bank of Canada, to the Federal Reserve Bank of San Francisco, San Francisco, California, 5 November 2013. *  *  *  Introduction Canada shares many similarities with emerging market economies (EMEs) in Asia.
Indeed, in some respects, we wish we were even more like them – particularly in regard to growth. Like most Asian countries, Canada has a very open economy that is heavily influenced by developments elsewhere, especially those in its southern neighbour.